Full text of Treasury Bulletin : July 1960
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LIBRARY
ROOM 5025
MAR
6
1961
LIBRARY
ROOIVI
Jm
?.
5030
3 1972
TREASURY DEPARTMENT
WEASUMV^
^^mUILILEFm
JULV-iaBD
LfBRARY
ROOM 5030
JUN
1 3 1972
TREASURY DEPARTMENT
UNITED STHTES TREHSU RV DEPRRTMENT
OFFICE DF THE SECRETRRV
The Treasury Bulletin Is for sale by the
Superintendent of Documents,
U. S. Government Printing Office, Washington 25, D. C.
Subscription per year $b.00 domestic, $7.50 foreign.
Single copy price varies
July
I960
Table of Contents
Treasury financing operations
Page
A-1
Summary of Federal fiscal operations
1
Budget receipts and expenditures
2
Trust account and other transactions
g
Cash income and outgo
12
Account of the Treasurer of the United States ,. IS
Debt outstanding
20
Statutory debt limitation
2k
Public debt operations
25
United States savings bonds
4-3
Ownership of Federal securities
47
Treasury survey of ownership of Federal
securities
4-9
Market quotations on Treaeury securities
53
Average yields of long-term bonds
5^
Internal revenue collections
5S
Monetary statistics
Go
Capital movements
64-
Cumulative table of contents
75
Note: Where calculations have been made from unrounded figures,
the details may not check to the totals shown.
Trcasurij Bulletin
II
Reixirting Bases
Data on recelptfl, expendlturea, and debt which appear In the
The dally statement on the new basis was first Issued for
195**.
In the deposits and withdrawals as shown, no
Treasury Bulletin" are based largely on two Treasury financial
February I7,
reportB. the 'Dally Statement of the United States Treasury" and
distinction is made as to the type of accounts {budget, trust,
etc. ).
The deposits are on the basis of certificates of deposit
the "Monthly Statement of Receipts and Expenditures of the
United States ^overrment. " Certain monetary statistics are based
flt least In part on the "Circulation Statement of United States
Honey."
Where these statements are given as sources for inTheir respective
dividual tables, they are cited by name only.
reporting bases are described below.
Bulletin,
For other data in the
Information on sources or reporting bases le given In
cleared throu^ the account of the Treasurer of the United States.
Total withdrawals are on the basis of checks paid or cash dis-
Some of the
bursements made out of the Treasurer's account.
withdrawal classifications shown are reported on the basis of
mailed reports of checks Issued and are adjusted by' means of
Except for
clearing accounts to the total of checks paid.
relatively minor amounts, noncash Interfund and other Intragovernmental transactions are excluded. The public debt figures
connection with the tables themselves.
The monthly statement of receipts and expenditures was first
published for February I95U, and replaced the dally statement as
the prlToewy source of information on budget results and other
and expenditure data classified by type of account.
At the same time, the dally statenient was changed to a statement
receipt
of cash deposits and withdrawals affecting the account of the
In the dally statement also are on a "clearance" basis,
with the
exception of those Issuance and retirement transactions reported
on the basis of telegrajns from Federal Reserve Banks.
debt transactions are Included,
Noncash
however.
The dally statement before February 17,
195'*.
covered not
Treasurer of the United States. Both publications have provided
comparative figures on their respective bases from the beginning
only transactions cleared through the Treasurer's account but
of the fiscal year 195J. The announcement of February 17, 195'*.
with respect to these reporting changes may be found in the
through commercial bank accounts, and Included noncash interfund
and other intragovem-nental transactions. It provided Information
similar to that in the present daily statement with respeot to the
April I95U issue of the Bulletin.
also certain Government agency transactions which were handled
statue of the Treasurer's account,
of the Govemraent,
and similar to that In the
including those made from cash accounts held
dally statement with respect to debt
Issuance, retirement, and amount outstanding.
Receipts and
The Information Is compiled
expenditures, however, were classified by type of account, and
The monthly statement shows all receipts and expenditures
outside the United States Treasury.
present
end-of-month
from reports by the Treasurer of the United States and by all
the budget results shown In the dally staterrent were used as the
other collecting and disbursing agencies, Including those agencies
basis for reflecting the results under the Fresldent't budget
which maintain checking accounts in cominerclaJ. banks. These
reports cover transactions recorded in the accounts of the
agencies during the reporting period. The net of the transactions as complied from these reports le reconciled In the
proeram as enacted by the Congress.
monthly statement to changes In the balance
In the Treasurer's
account and In cash held outside the Treasurer's account and
changes In ths public debt outstanding.
Receipts were on the basis of deposits as they cleared the
Treasurer's account. Expenditures cleared through the Treasurer's
account were reported on two successive bases.
Through
19'*6
they
were on the basis of checks paid by the Treasurer of the United
States.
Beginning with
19'*7>
expenditures made through the
facilities of the Treasury Departirent's Division of Disbursement
Heeelpte of taxes and customs duties are reported on a
Other receipts are reported partially on a
collections basis.
oollectione basis and partlallyona deposits basis. Expenditures,
except Interest on the public debt, are reported on the basis of
checks Issued or cash payments made by disbursing officers.
Transactions of an Interfund or Intragovernmental nature are
Included on the same basis even though the actual issuance of
Interest on the public debt Is included on an accrual basis beginning with figures for June 1955
checks may not be Involved.
were on the basis of checks Issued, while certain others,
prlr.-
cipfllly those of the Derartuent of Defense and Its predecessor
organizations, were on the basis of checks paid.
Transactions
consisting of market
transactions In public debt and guaranteed securities, were as
reported by the agencies.
Interest on the public debt was in-
handled through commercial bank accounts,
cluded on a due and payable basis beginning with November
19'*9
and on a checks-paid basis F>rlor to that time.
The circulation statement reflects transactions through the
and the fiscal year 1955. Prior to that. It was Included on 3
due and payable basis. The same reporting basis as that In the
Treasurer's account which affect monetary stocks of gold and
monthly statement provides the fiscal year figures for the
Treasury's "Comblnsd Statenent of Receipts, Expenditures and
of the country.
Balances of the United States Government" and for actual receipts
and e^qjendltures In the "Budget of the United States Ooverrnient."
silver and the amounts of coin and currency in the money supply
It
Is Issued later than the dally statement,
however, and the figures are based on transactions consummated
during the reporting period even though some may not have
cleared the Treasurer's account during that period.
July
mo
Jk-1
Treasury Financing Operations
Tax Anticipation and One-Year Treasury Bills
To provide $3 billion of funds for anticipated
respect to the purchase or sale or other disposi-
cash requirements during the first quarter of the
new fiscal year, and to refund one-year bill* mat-
under these offerings until after the closing hoxir
for tenders, which was 1:30 p.m.. Eastern Daylight
uring, the Treasury Department on June JO, i960,
announced the offering of two new securities as
Saving time on each of the auction days.
follows:
The new bills of both series were issued in
bearer form only, and in denominations of $1,000,
$3i billion, or thereabouts, for cash
of 252-day Treasury bills, tax anticipation series, dated July 13, i960,
and maturing March 22, I961.
These
bills will be acceptable at par In payment of Income and profits taxes due
March 15, 1961.
$1J billion, or thereabouts, of one-year
Treasury bills dated July I5, i960,
and maturing July I5, I96I, for cash
or In exchange for the $2 billion of
one-year bills maturing July 15, i960.
Both bill Issues were sold on an auction basis,
the 252-day bills on July 6 and the one-year bills
on July 12.
Any commercial bank qualified as a depositary
was permitted to make payment for the 252-daj bills
allotted to Itself and Its customers by credit In
Its Treasury tax and loan account up to the amount
for which It was qualified In excess of existing
deposits. Other subscribers to this Issue were
required to complete payment for accepted tenders
at the prices offered In cash or other Immediately
available funds on July 13, i960. Payment for accepted tenders for the one-year bills was required
tion of, the bills for which tenders were submitted
35,000, $10,000, $100,000, $500,000, and $1,000,000
(maturity value).
Tenders for the tax anticipation bills totaled $4,401; million of which $3,512 million were accepted. This amount included $452 million of non-
competitive tenders for $500,000 or lees from any
one bidder accepted In full at the average price
of accepted competitive bids. The average rate of
discount was 2.823 percent.
Tenders for the new one-year bills totaled
$3,036 million of which $1,500 million were accepted.
This Included $179 million of noncompetitive
tenders for $'00,000 or less from any one bidder
accepted at the average price of accepted competitive bids.
The average rate of discount was 3.265
percent.
13-Week and 26-Week Bills
The $8.3 billion of regular veekly Treasury
bills Issued In June refunded $8.2 billion of 13week and 26-week bills maturing and provided $100
million of cash.
Of the five new issues of 91-day
to be completed on July 15, i960, in cash or other
immediately available funds or In a like face ajnount
bills totaling $5.8 billion, those for June 2 and
June 30 were for $1.1 billion each, and the others
of Treasury bills maturing July 15, i960.
Cash adjustments were made for differences between the par
for $1.2 billion each.
value of maturing bills accepted in exchange and
The five new 182-day bills
were for $0.5 billion each. Average rates of discount on the new weekly bills were as follows:
the Issue price of the new bills.
Tenders were received without deposit from In-
corporated banks and trust companies and from responsible and recognized dealers in inveetment securities. Tenders from others were required to be
accompanied by payment of 2 percent of the face
amount of Treasury bills applied for, or an express
guaranty of payment by an Incorporated bank or trust
company.
Subscribers were required to agree not to purchase or to sell, or to make any agreements with
13 -week
(Additional amount of bllla of
original maturity of 26 weeks)
Jvily
I960
SUMMARY OF FH)ERAL FISCAL OPERATIONS
(In millions of dollars)
.
..
Treasury Bulletin
.BUKJET BECEIPTS AND EXPENDITURES.
Table 1.- Receipts by Principal Sources
(in millions of dollars)
Internal revenue 1/
Employment taxes
Income taxes
Fiscal year
or month
Individual
Corporation
2/
1952
Not
withheld
Withheld
1/
2/1/
1/jJ
18,5a
32,826
33,012
1953
195i
1955
1956
a, 523
a, 531
For rail- For unroad re- employment
tirement insurance
6/
5/
3,569
4,086
4,537
5,340
6,337
603
24,012
51,347
54,363
53,906
49,915
56,633
26,728
27,041
29,001
60,560
59,102
58,826
6,634
616
7,733
8,004
32,100
35,200
67,700
72,700
a, 3 51
a, 635
a, 254
10,747
10,396
11,322
18,265
a, 299
Total
income
taxes
For old-age
and disability insurance
Total
employment
taxes 7/
259
277
285
280
325
4,562
7,5ffl
575
525
330
336
324
10,092
11,665
630
660
311
1,235
652
259
882
476
735
620
600
634
4,983
5,425
6,220
7,296
6
20
85
52
1
1
1
332
1,3a
131
98
107
971
1,027
1,007
3,606
7,160
9,229
16
82
51
2
106
104
115
977
936
1,031
1,U9
103
134
177
794
954
1,044
2
858
1,918
243
173
945
1,061
3,319
6,852
7,586
4,808
8,902
11,894
6,958
340
10,003
1,39
2,171
4,7U
October.
November.
December.
491
405
3,180
527
564
483
6,192
1,959
4,849
5,913
3,568
6,201
9,524
1
1960-January.
February.
1,211
4,345
2,371
860 10/
4,835
2,541
770
298 12/
1,243
1,078
16
84
26
283
341
1,611
50
21
4,910
6,251
839
1,834
17
82
2
4,7U
29,402
57,470
9,107
556
619
467
1960 to date..
3,520
1,039
16,649
11,419
80,172
79,978
79,798
12,557
4,223
2,264
April
75 ,109
15
7
5
123
May
5
6
364
791
7
10,004
11, 8U
568
368
3,311
March
945
936
1,171
9 8/
10,760
1959-JaLy
August .
September
884
9,ai
65,635
70,171
70,300 8/
66,289
9,726
10,825
10,014
1,500
1,650
12,600
13,200
362
2/
11,057
12,667
23,000
24,300
2,U4 10/
2/
335
342
1960 (Est.)...
1961 (Eat.)...
7,411
Total
internal
revenue
8,644
8,854
20,533
18,092
257
99
Taxes not
otherwise
classified
10,638 2/
12,302
11,528
11,733
1,837
Excise
taxes
1,378
1,411
1,353
1957
1958
1959
.
Estate
and gift
taxes 2/
704
278
965
1
10, 8U
92,073
99,580
9,406
10,747
1,491
79,718
Deductions from budget receipts
Miscellaneous
receipts
Fiscal year
or month
Transfers of tax receipts to -
receipts
7/
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
1960 (Est.).
1961 (Est.).
1959-July
August ....
September.
October
November.
December.
—
1960-January
February.
March
April.
Haj...
1960 to date
551
1,8U
613
562
606
705
FOASI
Trust
Fund
11/
Federal DlsaJblllt7 Insurance
Trust Fond
Railroad
Retirement
Account
12/
12/
^
129
72
3,03
165
1
1
201
179
160
16
82
51
198
128
2
a9
71
6
1
2
928
972
94
87
237
172
224
3,936
7,418
9,552
279
1,112
588
32
123
63
a7
3,626
7,152
8,350
235
793
429
5,425
9,289
1,132
a7
986
233
as
-17 12/
430
105
528
294
219
31 12/
112
92
16
84
50
264
191
1J16
91
91
419
228
7,468
9,725
759
1,677
80
158
17
82
202
249
1,335
1,003
1,033
3,408
84,159
8,258
849
556
2,404
4,775
6/
3,246
5,679
8,486
192
237
9,164
10,693
^
167
181
161
20
85
52
97,286
104,912
i/
78,600
84,000
24
24
4,013
3,932
Sources Actual flguTBB for 1952 are from the daily Treasury statement and thereafter from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases
see page II); estimates are from the 1961 Budget doctiment, released
January 18, 1960, and supporting data. Including effects of proposed legislation.
1/ For further detail, see tables under "Internal Revenue Collections."
Breakdown was not made in the daily Treasury statement and the
monthly statement for years prior to 1954.
2/ Beginning January 1951, the distribution of receipts between individual
Income taxes and old-age and disability insurance taxes is made in
accordance with provisions of Sec. 201 of the Social Security Act,
as amended (42 U.S.C. 401), for transfer to the Federal Old-flge
and Survivors Insurance Trust Fund (see footnote 11), and after
December 1956 also for transfer to the Federal Disability Insurance
Trust Fund (see footnote 12).
5,335
5,637
5,308
5,611
1,200
1,400
12,
3
2
2,627
2,950
575
525
267 12/
71,029
69,117
68,270
630
660
616
93
3,917
4,433
4,933
3
23
333
863
847
90
3
20
18
6,301
6,870
7,158
24
61,391
64,825
64,655
60,390
68,165
3,894
4,413
4,907
83,675
83,974
83,904
89
47
2,302
3,118
3,377
3,426
3,684
1,479
2,116
2,171
2,749
3,196
3,158
666
Net
budget
receipts
Total
refunds
18
17
754
800
948
205
Internal
Revenue
2,275
3,095
3,345
3,400
3,653
3,569
4,086
4,537
5,040 16/
6,337
90
94
99
Highway
Trust
Fund
738
620
603
599
634
1,865
2,311 8/
2,559
3,006
67,999
72,649
73,173
69,454
78,820
99
Refunds of receipts 15/
Total
bxidget
20
22
23
2
1
2
2
16
9
6
11
4
8
2
7
5,897
7,582
-16
432
1,317
4,909
1,336
1,005
5,074
6,555
4,793
67,298
7,265
9,581
Taxes on employers and employees under the Federal Insurance Contributions Act, as amended (26 TI.S.C. 3101-3125), and, beginning with
the taxable year 1951, tax on self-employed individuals under the
Self-Employment Contributions Act, as amended (26 D.S.C. 1401-U03).
The Social Secxirity Act Amendments of 1956, approved August 1, 1956,
Increased the rates of tax applicable to wages paid and taxable years
beginning after December 31, 1956, to provide for disability insurance (see footnote 12).
Taxes on carriers and their employees under the Railroad Retirement
Tax Act, as amended (26 D.S.C. 3201-333).
Tax on employers of 4 or more under the Federal Unemployment Tax Act,
as amended (26 U.S.C. 3301-3308); with respect to services performed
before January 1, 1956, the tax was imposed on employers of 8 or more.
Remaining footnotes on following page.
..
July
mo
-BUDGET KECEIPTS AND EXPENDITURES,
Table 2.- Detail of Miecel laneous Receipts by Major Categories
(in millions of dollars)
RealizaDividends tion upon Recoverieg
and other loans and and
earnings investrefunds
ments
Fiscal year
or month
1953
1,865 1/
335
I'l^i
.^,311
458
408
J, 559
1,006
1955
1956
299
361
252
554
291
628
745
601
438
228
240
274
296
199
323
410
471
Sale of
Govern-
ment
property
Seigniorage
Sale of
products
Fees for
permits
and
licenses
50
59
66
69
66
5
28
86
79
90
20
6
53
160
161
23
5
54
133
93
99
23
57
61
69
59
106
116
197
19
19
10
11
6
6
-15
-3
5
8
+3
480
313
23
312
304
350
49
49
59
372
40
49
322
343
387
345
325
471
458
204
213
421
450
42
17
6
17
20
1
13
26
45
3
5
5
21
4
3
35
29
6
4
4
14
10
4
3
1960 (Est.).
1961 (Est.).
4,013
1
,007
1 ,043
3,93.)
1,053
843
195 9- July...
Aug
Sept.
?J7
17?
28
Pb
46
77
28
34
67
40
46
7
205
9
7
5
13
20
666
388
64
16
45
42
5
5
47
iO
341)
45
3
27
4
Feb
5?8
?9i
47
5
5
Mar
39
8
68
25
6
.
Oct
Nov
Dec
in
.
.
.
1960-Jajl
Apr.
.
.
1960 to date
63
77
8
33
14
35
5
34
30
U
75
20
7
95/.
U
383
221
22
2/
5
5
»
-1
7
7
9
-2
9
18
54
11
30
-9
186
321
42
Footnotes to Table
trust fund.
12/ The Federal Disability Insurance Trust Fund was established by the
Social Security Act Amendments of 1956, approved August 1, 1956
The act appropriated to the trust fund amounts
(42 U.S.C. 401 (b)).
equivalent to specified percentages of the wages and self-employment
income, respectively, which are taxed for old-age insurance, and
provided that the amounts appropriated should be transferred from
7
6
83
11
6
7
85
+2
-13
+1
-2
-1
307
receipts and expenditures of the Government (baaed on preliminary
reports) and that from final accounts of disbursing officers.
In 1953 , taxes collected in Puerto Rico on products of Puerto Rican
manufacture coming into the United States, amounting to $16 million,
are classified as miscellaneous budget receipts; thereafter, such
collections are included in Internal Revenue collections of excise
taxes.
Less than 500,000.
Source: Reports to the Treasury Department by disbursing officers,
on the monthly statement reporting basis (see page II); estimates
are from the 1961 Budget document, released January 18, 1960,
and supporting data, including effects of proposed legislation.
1/ Consists of miscellaneous taxes (principally the tonnage tajc on
foreign vessels entering U. S. ports), bullion charges, and
gifts and contributions.
2/ Difference between the total shown in the monthly statement of
2/ Through 1953, contributions to the Railroad Unemployment Insurance
Administration Fund were carried in the daily Treasury statement as
miscellaneous receipts, while the 1961 Budget document, Jpecial
Analysis G, included them In employment taxes in 1952. Beginning
1954 the contributions are credited direct to the trust account.
For amounts of the contributions included in budget receipts, see
"Treasury Bulletin" for February 1954, page 7.
8/ In the 1961 Budget document. Special Analysis G, taxes not otherwise
classified are included in miscellaneous receipts.
2/ Beginning 1957, includes collections under increased rates in the
Highway Revenue Act of 1956 (see footnote 14).
10/ Figures shown include (see footnote 11) decreases in income tax of
$98 million withheld and 14 million not withheld and increases in
transfers of $90 million to Federal Old-Age and Survivors Insurance
Trust Fund and 111 million to Federal Disability Insurance Trust Fund.
11/ Amounts appropriated to the Federal Old-Age and Survivors Insurance
Trust Fund are equivalent to the amounts of taxes collected and
deposited for old-age insurance. Amounts transferred currently
for appropriation to the trust fund are ba^od on estimates of oldage insurance tax receipts made by the Secretary of the Treasury
(42 U.S.C. 401(a)), and are adjusted in later transfers on the
basis of wage and self-employment income records maintained in
the Social Security Administration.
The amount of old-age
insurance tax refiuids is reimbursed to the general fund by the
16
13
15
58
2,7i9
3,196
3,158
506
2/
212
194
45
45
47
49
1957
1958
1959
bll,
Other
1/
Adjustment to
monthly
statement
67
224
221
253
services,
etc.
328
328
587
266
Fines,
Royal- penalties,
and foiv
ties
feitures
208
225
194
266
221
363
56
73
29
Fees and
other
charges
for
-
1
i^
14/
15/
16/
17/
»
(Continued)
tin» to tluje to the trust fund on the same basis as transfers to
Rates of
the Federal Old-Age and Survivors Insurance Trust Fund.
tax were increased by the percentages appropriated to the Federal
Disability Insurance Trust Fund, the increase being applicable to
wages paid and taxable years beginning after December 31, 1956.
Excludes the Government's contribution for creditable military
service (45 U.S.C. 228C-1 (n)). Amounts are appropriated to the
Railroad Retirement Account equal to the amount of taxes under
the Railroad Retirement Tax Act deposited in ttie Treasury, less
refunds, during each fiscal year (65 Stat. 222 and 66 Stat. 371)
and transfers are made currently.
The Highway Revenue Act of 1956, approved June 29, 1956 (23 U.S.C.
120, Note) established a Highway Trust Fund from which are to be made,
as provided by appropriation acts. Federal-aid highway expenditures
after June 30, 1956, and before July 1, 1972. The act appropriated
to this fund amounts equivalent to specified percentages of receipts
from certain excise taxes on motor fuels, motor vehicles, tires and
tubes,
and use of certain vehicles, and provided that the amounts
appropriated should be transferred currently to the trust fund on
the basis of estimates by the Secretary of the Treasury with proper
adjustments to be made in subsequent transfers. The use tax was
imposed by the act and rates were increased for the other taxes.
Previous to the fiscal year 1957 corresponding excise tax receipts
were included in net budget receipts, and Federal-aid highway expenditures were Included in budget expenditures.
Interest on refunds is Included in expenditures in Table 3.
Transfers reduced by $300 million to correct those made earlier
on basis of estimates (see footnote 11).
Net of reimbursement of $89 million from the Federal Old-Age and
Survivors Insurance and Federal Disability Insurance trust funds.
Uss than $500,000.
.
..
..
.
,
.
Treasury Bulletin
.BUDGET RECEIPTS AND EXFEHBITUEES
Table 3.- Expenditures by Agencies
(In millions of dollara)
Legislative
branch
Fiscal year
or month
Judiciary
Executive
Office
of the
President
74,274
67,772
64,570
66,540
1957.
1958.
1959.
69,433 2/
71,936
80,697
1960 (Est.)
1961 (Est.)
78,333 i/
79,816
y
1959-July
August ....
September.
October. .
November..
December..
1960-Janua2y. .
Februaiy
March
.
April.
59
27
28
9
9
65
85
30
37
9
10
97
99
118
39
44
47
10
61
1953.
195i.
1955.
1956.
2/
JM
973
523
570
425
359
-23
199
1,152
5,006
4,875
7,091
9,492
10,181
430
458
361
500
5,706
6,201
690
758
732
516
760
728
17
30
42
38
195
531
122
376
435
716
562
568
738
778
22
32
794
39
37
163
796
841
1,620
8,130
4,115
4,081
4,109 i/
7,707 2/
8,305
9,315
4
7
14
4
4
4
4
10
11
4
7
4
4
13
4
5
161
1,748
1,814
135 6/
144
158
5
Ul
U4
9
4
4
U5
9
10
4
5
4
3
133
155
5
4
6
4
HO
7/
1953
Militaiy
43,611
40,336
35,532
35,791
1954
1955
1956
Civil
functions
813
605
548
573
639
1960 to date..
-30
-28
239
92
294
69
75
259
258
57
3U
56
63
285
270
3,438
3,448
66
75
325
284
39,087
772
3,125
State
Department
District
of
Interest
On
public
On
ColiMibia
refunds
of taxes
10/
798
12
83
873
13
62
368 1/
879
22
22
69
540
604
49
238
292
9,300
9,500
75
75
909
877
41
43
43
64
59
46
59
728
724
718
6
10
6
69
15
22
27
20
20
97
22
19
31
-1
17
20
20
22
28
48
48
a
636
37
75
55
74
May
3U
7,607
7,593
270
April
40
-18
-70
7,2U
57
81
3,278
3,488
3,749
4,922
30
187
189
97
206
272 i/
744
1960- January . ..
February
March. ...
426
43
51
179
3,417
3,517
3,715
3,465
3,968
340
5U
473
518
674
774
907
972
83
Department 8/
418
567
1,016
259
271
5U
21
2U
807
.
325
13
-129
-9
382
U2
42,745
42,745
October.
November.,
December.
500
355
562 2/
645
6,504
6,382
6,370
6,787
41,33 4/
September.
Post
Office
659
312
356
463
572
666
751
273
293
Labor
Department
300
355
394
412
171
183
182
1960 (Est.)....
1961 (Est.)....
3,513 6/
3.467
3,558
17
-8
15
debts/
587
535
515
512
2,295
2,645
3,092
.
Justice
Department
1,920
1,981
1,993
2,071
38,439
39,062
1959-July
August,.
1,063
1,000
1,077
1,293
Treasury Department
Health,
Education, Interior
Departand
ment
Welfare
Department
1957
1958
1959
733
134
148
-59
25
Commerce
Department
2,915
4,636
5,177
»
45
Defense Department
Fiscal year
or month
Agriculture
Department
3,217
10
6,199
6,170
6,424
Houelng
and Home
Finance
Agency
385
-615
129
39
1,107
806
67
79
General
Services
Administration
6,905
6,473 1/
6,791
6,982
49
52
6,557
6,305
6,357
6,868
6,598
6,844
70,
1960 to date
11
56
Independent
offices
5,782
5,282
4,381
4,473
162
135
6,041
6,079
May..
Funds
appropriated
to the
President
809
72
56
51
46
61
52
U
a6
229
250
19
20
Source: Actual figures are from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases, see
page II); estimates are from the 1961 Budget document, released
Januaiy 18, I960, including effects of proposed legislation.
Note: Figures in this table are for agencies as constituted at the time
the expenditures were made, and therefore do not necessarily represent
functions which are comparable over a period of time. For expenditures
Agency shifts are
by functions on a consistent basis, see Table 5.
reflected in this table as follows: Beginning 1955, Federal Home Loan
Bank Board from "Housing and Home Finance Agency" to "Independent offices,"
and Reconstruction Finance Corporation as indicated in footnote 1; beginning 1957, Alaska Road Construction from "Interior Department" to
"Commerce Department," and Federal intermediate credit banks and production
credit corporations as indicated in footnote 3; beginning 1958, Federal
Facilities Corporation (remaining functions) from "Treasuiy Department"
to "General Services Administration," and Informational Media Guaranty Fund
from "Funds appropriated to the President" to "Independent offices";
beginning 1959, Federal Civil Defenae Administration from "Independent
offices" to "Executive Office of the President"; and the former Civil
Aeronautics Administration and the Civil Aeronautics Board from "Commerce
Department" to "Independent offices"; beginning 1960, military
assistance is shown under "Defense Department, military" instead
of "Funds appropriated to the President."
271
156
136
74
54
57
74
748
765
2,178 il/
732
42
743
20
800
59
56
43
57
78
22
22
826
779
784
5
13
U
69
62
u
772
772
4
67
69
502
527
226
8,378
71
717
U
41
57
1
5
34
48
61
74
a
25
26
25
31
61
64
94
28
Reconstruction Finance Corporation Is included under "Independent offices" through 1954, and under "Treasxiry Department" beginning 1955,
except functions transferred to Export-Import Bank, Federal National
Mortgage Association, General Services Administration, and Small
Business Administration. The corporation was abolished at the close
of June 30, 1957, by Reorganization Plan No. 1 of 1957, and its
remaining functions were transferred to the Housing and Home Finance
Administrator, Administrator of General Services, Administrator of
Small Business Administration, and Secretary of the Treasury.
Beginning 1957, Federal aid for highways is excluded from budget
expenditures and included in trust account expenditures (see
Table 1).
2/ Effective January 1, 1957, the production credit corporations were
merged in the Federal intermediate credit banks, pursuant to the
Farm Credit Act of 1956, approved July 26, 1956 (12 U.S.C. 1027),
and operations of the merged agencies (as mixed-ownership corporations) were classified as trust enterprise funds (see "Trust Account
and Other Transactions," Table 3); previously the operations of the
banks and the corporations, respectively, were classified as public
enterprise funds and were included net in budget expenditures.
Remaining footnotes on page 7.
i/
^
,
::
hiiij
mo
.BUDGET RECEIPTS AHD EXPEMDITURES.
Table 4.- Summary of Appropriations and Authorizations, Expenditures, and Balances, by Agencies,
as of May 31, I960
(In millions of dollars; negative figures are deductions in the columns in which they appear)
AiMitions, fiscal year I960 to date
Agency
Unexpended
balances
brought
forward
July 1, 1959
Appropriations
1/
Ul
Legislative Branch
The Judiciary
U.
2,800
12,
4/
1/
50
63
283
259
5,15i
926
U6
31,635
2,548
3i5
A0,597
1,300
,097
3,559
746
267
272
21
188
292
72
40,597
1,300
935
3
604
229
10,485
62
77,850
1,678
Deductions, fiscal
year I960 to date
Legislative Branch
The Judiciary
Executive Office of the President
Finds appropriated to the President
Independent offices
General Services Administration
Housing and Home Finance Agency
Agriculture Department
Commerce Department
Defense Department
Military functions
Military assistance
Civil functions
Undistributed foreign transactions
Health, Education, and Welfare Department
Interior Department
Justice Department
Labor Department
Post Office Department
State Department
Treasury Department
District of Columbia - Federal contribution and loans.
Unclassified expenditure transfers
Adjustment to monthly statement of receipts and
expenditures of the Government
Total
3,558
749
267
524
604
229
10,485
62
-I
524
,078
(net)
774
5,652
930
243
2
496
925
372
Expenditures
1,944
10,657
900
283
71.648
Agency
Transfers,
borrowinga,
inveatments
116
1,9U
9,7U
U7
i89
8,977
3,605
Total
Other
authorizations
130
50
63
3
Executive Office of the President
Funds appropriated to the President 7/
Independent offices
General Services Administration
Housing and Home Finance Agency
Agriculture Department
Commerce Department
Defense Department
Military functions
Military assistance 7/
Civil functions
Undistributed foreign transactions
Health, Education, and Welfare Department
Interior Department
Justice Department
Labor Department
Post Office Department
State Department
Treasury Department
District of Columbia - Federal contribution and loans.
Unclassified expenditure transfers
Authorizations
to eirpend from
debt receipts
79,779
Unexpended balances May 31, 1960
Rescissions
cancellations
and other
adjustments 8/
Undisbursed
appropriations
Unused authorizations to
expend from
debt receipts
Unfunded
contract
authorizations
Investments
held
Total 2/
2/
102
45
105
3
8
51
57
2,756
57
3,084
1,620
8,130
340
426
4,922
492
9
59
4,396
370
359
896
810
62
313
37,713
1,371
47
327
9,911
6,483
3,399
142
465
1,388
41
68
781
34,519
2,508
487
773
1
-1
1,529
1
403
84
226
9,166
28
-1
1,531
487
51
51
210
370
74
1,419
81
210
370
74
5,964
7,384
81
-12
10/
10, LU.
Source: Bureau of Accounts.
Details for the current fiscal year to date
are shown in Bureau of Accounts report "Budgetary' Appropriations and
Other Authorizations, Expenditures and Unexpended Balarices".
1/ Includes same categories as shown at end of current period.
Although not expended, a substantial portion of these amounts is
2/
obligated for outstanding purchase orders and contracts for
equipment and supplies, for payrolls, and for similar items.
2/ Includes reappropriations.
4/ Consists of authorizations by law for Government-owned enterprises
to borrow (1) from the Treasury (to expend from public debt receipts),
or (2) from the public (to expend from debt receipts).
1/ Consists of new contract authorizations, established by law for the
current fiscal year, net of current appropriations to liquidate either
current or prior contract authorizations.
6/ Consists of transfers between appropriations; net borrowings from.
14,914
370
9,010
4,335
877
34,519
2,508
497
3,125
636
'31
502
527
12
152
51,397
474
7/
3/
2/
10/
"
26,096
1,770
1,246
80,508
or repayrnents to (-), the Treasury and the public under authority
to expend from debt receipts; and net investment in, or sale of
C-), public debt securities and certain guaranteed securitiea
issued by Government enterprises.
Effective with the month of April, Military asalatance is shown
under the Defense Department.
Consists of transfers to, or restorations from (-), the surplus
fund; rescissions, cancellations, or adjustments of borrowing
authority and contract authority; capital transfers to miscellaneous receipts; and other adjustments.
Public debt securities and certain guaranteed securities issued by
Government enterprises.
Represents difference between monthly statement figures (based on
preliminary reports) and final accounts of disbursing officers.
Less than $500,000.
Treasury Bulletin
.BUDGET RECEIPTS AND EXPENDITURES.
Table 5.
-
Bxpendltures and Balances by Functions
(Fiscal vears
Function
;
in millions of dollars^
July
mo
.BUDGET RECEIPTS AND EXPEND irURES.
Table 5.- Bxpendlturea and Balances by Functions
(Fiacal years; In milHona of dollars)
(Continued)
.. ..
,
.
.
.
"
'
Treasury Bulletin
THUST ACCOUNT AND OTHER TEAMSACTIONS
Table 1.- Summary of Trust Account and Other Transactions
(Id millions of dollars)
Fiscal year
or month
Net receipts, or
expenditures {-),
from trust account
and other transactions
1952
U7
1953
1954
1955
1956
135
328
231
-19A
1957
1958
1959
-329
Trust and deposit fund accounts
Expenditures
8,807
8,929
9,155
9,536
11,685
4,952
5,169
6,769
1,409
262
-1,511
14,369
16,329
17,084
12,959
16,068
18,595
-2,300
-197
1,112
1,085
567
71
20,696
22,547
21,510
21,278
-369
-1,954
985
906
l,2Li.
2,444
1,236
2,174
1,528
1,735
671
-666
317
-1
51
155
1,009
2,004
1,474
1,886
1,496
1,748
667
-67
-12
56
102
828
2,329
1,708
1,974
1,613
1,868
764
-160
-386
104
1,490
3,301
2,067
1,780
296
-1,097
143
153
1960 (Est.)....
1961 (Est.)
-198
-813
2a
1959-July
August. .
September.
-290
301
-27
1,269
-960
October. .
November..
December.
-207
496
916
-A99
-877
507
-274
-183
1960-January. .
February.
March
-379
662
April
May
(-), by Government
agencies in public debt
securities
Receipts
3,855
3,760
2,386
991 i/
2,250
195
633
.
Net sale , or redemption
(-), of securities of
Government agencies in the
market
Net sale, or investment
Net receipts, or
expenditures (-)
-1,U6
-W2
716
-160
-137
577
1,5a
-577
-2,054
-1,362 1/
-2,617
8,545 1/
9,435
Source: Actual figures for 1952 are from the daily Treasury statement and thereafter from the monthly statement of receipts and expenditures of the Government (for explanation of reporting bases,
see page II); estimates are from the 1961 Budget document released
January 18, 1960, including effects of proposed legislation.
1/ Under a revised classification in the monthly statement, effective
July 1, 1955, the security transactions of Government-sponsored
-72
-25
-4
602 1/
173
-3 ,636
-3 ,301
2/
3
3
105
enterprises are included in deposit fund account expenditures
(net) and excluded from net investment by Government agenciea
in public debt securities (see Table U) and from net redemption
or sale of obligations of Government agencies in the market
(see Table 5).
Figures previously published for the fiscal year
1955 have been revised to the new classification basis.
Includes guaranteed securities beginning 1955 (see Table i).
i/
Table 2.- Trust Account Receipts
(in millions of dollars)
Fiscal year
or month
Total
Federal Old- Age
and Survivors
Insurance Trust
Fund
Federal
Disability
Insurance
Trust Fund ij
1952
1953
1954
1955
1956
8,807
8,929
9,155
9,536
11,685 A/
3,932
4,516
5,080
5,586
1957
1958
1959
U,369
16,329
17,084
7,159
7,900
8,182
1960 (Est.)....
1961 (Est.)
20,696
22,547
10,178
11,721
1,063
1,2U
301
1,267
609
1959-July
August.
2,444
1,236
October. .
November.
December.
1,009
2,004
1,474
642
February
March. .
828
2,329
1,708
1,257
1,020
April
May
1,490
3,301
791
1,870
1 960- January
..
. .
.
264
908
291
Account
Unemployment
Trust
Fund
National
Government
Service
Ufe
Life Insur- Insurance
Fund
ance Fund
339
723
943
695
758
1,912
1,855
1,997
608
640
634
69
67
1,308
1,059
2,300
2,284
660
683
138
59
302
87
69
144
509
66
24
18
114
355
151
938
1,098
54
-
786
87
79
78
78
1,643
1,594
1,492
1,425
1,728
637
619
590
649
73
Federal
employees
retirement
funds
Highway
Trust
Fund
Other trust
ace Glints
2/
2/
912
961
691
708
1,025
597
401
457
U9
467 4/
681
1,482
2,134
638
63
1,397
1,458
1,741
2,185
585
58
57
1,707
1,770
2,628
2,950
794
924
40
38
38
3
2
2
112
131
131
192
Z38
67
34
60
39
2
2
2
131
116
151
369
201
343
74
31
46
102
67
85
81
32
125
18
67
42
88
71
251
56
Ul
2
24
2
107
137
151
218
264
191
51
43
44
20
85
175
39
1
125
2
124
202
249
54
82
93
82
177
Source : See Table 1
See "Budget Receipts and Expenditures," Table 1, footnote 12.
See "Budget Receipts and Expenditures," Table 1, footnote 14.
Includes District of Columbia receipts from taxes ai^ from
Federal contributions, loans, and grants; Indian tribal funds;
increment resulting fron reduction In the weight of the gold
1/
2/
2/
loent
850
742
737
700
739
7,003
September.
Railroad
Retire-
670
V
36
37
a
297
80
dollar; and the Railroad Unemployment Insurance Administration
Fund for the. period 195^ through November 1958 (see Table 7 for
treatment thereafter, and "Budget Receipte and Expenditures,
Table 1, footnote 7, for treatment prior to 1954).
Does not include donation of public debt securities anounting to
$45,800 (par value); see alec Table i.
July
i%()
TRUST ACCOUNT AMD OTHER TRANSACTIONS.
Table 3.- Trust and Deposit Fund Account Expenditures
.
Treasury Bulletin
10
.
TEUST ACCOUNT AMD OTHER TEAMSACTIONS
Table 4.- Net Investment by Government Agencies In Public Debt Securities
(In millions of dollars; negative figures
are excess of sales)
July
1960
11
-TRUST ACCOUHT AND OTHEP TRANSACTIONS.
Table 5.- Net Redemption or Sale of Obligations of Government Agencies In the Market
(In millions of dollars; negative figures are excess of sales)
Securities not guaranteed by the United States
Securities guaranteed by the United States
Public enterprise funds
Fiscal year
or month
1952
1953
195i
1955
1956
,
Total
Total
guaranteed
72
25
4
-602 2/
-173
1,085
1957
1958
1959
-567
-71
Commodity
Credit
Corporation
Federal
Farm
Mortgage
Corporation
-16
-7
-29
37
-30
-16
-7
-30
37
-30
-33
6
-33
6
-10
-10
-lU
-U
-1 ,052
-573
-61
-1,052
136
-2
-6
-2
-50
-100
-50
-100
-3
-5
-3
-3
-5
-3
-100
-100
-100
-100
7
-2
-150
-151
-150
-151
-3
-56
-102
1960-January
February.
March
-105
-IDA
V
7
-2
Home
Owners'
Loan
Corporation
U
-570
-233
6
-573
-61
-2
-6
-2
October..
November.
December.
-153
-LU
-50
-150
1
-U3
-69
U
-50
-150
1
-1
-5
April
65
-639
33
Federal
National
Mortgage
Association 2/
-98
-639 1/
-1
-5
1
-51
-155
9
Public enterprise funds
Federal
intermediate
credit
banks 1/
65
-980
-915 i/
1959-July
August. .
September
May
-98
32
-980
-915 A/
-985
-906
-3
Total not
guaranteed
-5
9
-5
1960 (Est.)..1961 (Est.)...
.
Home
Owners'
Loan
Corporation
Federal
Housing
Administration
Total
public
and trust
enterprise
funds
»
Securities not guaranteed by the United States - (Continued)
Government-sponsored enterprises
Trust enterprise funds
Fiscal year
or month
Federal
intermediate
credit
banks 1/
Federal
National
Mortgage
Association 6/
Total
Governmentsponsored
enterprises
Banks
for
cooperatives
186
-33
-11
1952.
1953.
1954.
1955.
1956.
1957.
1958.
1959.
-as
-225
58
-100
-950
-115
-125
-980
-800
1960 (Est.).
1961 (Est.).
1959-July
August. ,
September.
.
Federal
home
loan
banks
Federal
interroediate
credit
banks 1/
-99
285
12
136
-146
-226
-588
191
282
-554
-53
-261
-230
-95
-242
-45
-269
-872
-86
167
-1,222
10
-23
-885
-30
-35
-400
392
-275
-200
-180
-100
-310
-25
-85
-54
-20
-98
-46
-20
57
-50
-150
-364
-178
-79
-35
6
October. .
November.
December.
»
-117
-36
-50
-100
-185
52
-8
1960-January. .
February
March
April.
May...
-100
-100
-150
-151
61
290
3
79
346
20
-39
-42
19
247
-64
-57
.
tt
Source: See Table 1.
Clajsified as a public enterprise fund prior to January 1, 1957;
as a trust enterprise fund January 1, 1957, to January 1, 1959;
and as a Government-sponsored enterprise thereafter (see Table 3,
footnote 3 )
2/ Management and liquidating functions.
Federal
land
banks
-a
155
-166
-134
-240
-110
2/
1/
6/
52
55
60
21
-39
-20
1
-47
1
BeRinning 1955 excludes net transactions of Govemment-aponsored
oBterprisea (see Table 3).
Total Includes $-115 million for Tennessee Valley Authority.
Total Inclxidae a small amount of sales by the District of Columbia
stadium fund, a trust enterprise fual.
Secondary market operations.
laas than $500,000.
Treasury Bulletin
12
.CASH INCOME AND OUTCO.
appearing In the
The caeh income and outgo data
"Treasury Bulletin, " beginning with
issue, are on a basis consistent with
payments to the public as derived In
the February 1956
receipts
representing cash received from the public. Federal casn
borrowing from the public Includes net borrowing by the
sequent Budgets of the United States, Special Analysis A.
Treasury through public debt transactions and also net
borrowing by Government agencies and Government-sponsored
enterprises through sales of their own securities.
Reconciliation to cash deposits and withdrawals In the
It excludes changes in the public debt which do not rep-
the Treasurer of the United States Is shown on
resent direct cash borrowing from the public. The net
effect of all these transactions with the public Is
reflected In changes In the balance in the Treasurer's
account
of.
frora
and
the 1957 and sub-
the same basis as In the Budget documents.
There Is also
shown the amount of net cash borrowing from, or repayment of
borrowing to, the public.
data In
By these arrangements,
accordance with the Budget classifications are
jiade
account and In cash held outside the Treasury.
avail-
Figures for back years have been
Cash transactions through the Treasurer's account are
revised where necessary in order to make them as nearly
sin liar in general concept to those included in the Budget
able month by month.
but are limited in coverage to transactions whloh
comparable with the Budget classifications as available
series,
data will permit.
affect the balance In that account.
For this reason certain of the figures
differ somewhat from those published in earlier Budget
documents as well as in the Bulletin,
On the other hand,
they Include receipts from the exercise of monetary
authority, which are excluded from receipts from the public
in the Budget series.
The Budget series of cash transactions is designed
to provide information on the flow of money between the
Beginning with fljures for the fiscal year 1953, the
public and the Federal GoverPiment as a whole, and therefore
includes transactions not cleared through the Treasurer's
series of transactions with the public Is based on the
"Monthly Statement of Receipts and Expenditures of the
Receipts and payments Include transactions both
United States Government," which Is compiled from reports
In budget accounts and In trust and deposit fund accounts.
Operations of Qovernment-sponFored enterprises are Included
by all collecting and disbursing officers and Includes
those transactions not cleared through the Treasurer's
account.
in payments on a net basis as reflected in Treasury reports.
account.
Major intragovemmental transactions which are reported as
account, beginning with the flgui-es for the same year, are
both expenditures and receipts are eliminated from both.
reported In dally Treasury statements.
Noncash items which represent accrued obligations of the
prior to 1953 both cash transactions series are based on a
single source, namely, the earlier basis of dally Treasury
Government to make payments in the future are also eliminated
from expenditures but are added later when actual payments
are mace.
Receiyts from the exercise of monetary authority
(mostly seigniorage on silver)
are
excluded
as
not
Cash deposits and withdrawals In the Treasurer's
For those years
statements which reported separate classifications for
budget results, trust account transactions, etc.
Juhf
I960
13
.CASH INCOME AND OUTGO.
Table 1«- Summary of Federal Goverment Cash Transactions with the Public
(In millions of dollars)
Net cash transactions with the public
other than borrowing
Fiscal year
or month
Federal receipts from
the public
Federal payments to the
public
Kxcess of
receipts, or
payments {-)
Net cash
borrowing from
the public, or
repayment (-)
Plus:
Plus : Receipts from
exercise of
monetary
authority
67,964
76,773
71,860
70,538
72,617
49
-5,274
-232
-2,702
4,471
-505
2,919
2,512
1,809
-4,366
68
1956
68,013
71,499
71,627
67,836
77,088
1957
1958
1959
82,107
81,893
81,660
80,008
83,413
94,804
2,099
-1,520
-13,144
-3,100
5,760
8,678
49
1960 (Est.)...
1961 (Est.)...
94,796
102,178
95,338
96,257
-542
5,921
4U
-5,969
40
48
1959-July
August . .
September
3,973
7,903
9,488
8,171
8,498
7,709
-4,198
-594
1,779
4,606
1,339
-1,457
1
October.
NoTember.
December.
3,678
7,579
7,894
8,228
7,795
-4,a6
3,656
-763
6
1960-January.
February.
March. ..
5,461
6,767
8,075
7,099
-1,306
1,156
3,984
1952
1953
1954
1955
April....
8,163
9,31
11,084
-649
368
29
23
59
U
3
4
233
5
5
1960 to date..
82,613
86,069
-3 ,456
5,U5
Source; Actual figures for 1952 are based on the daily Treasury
statement and thereafter they are based in part also on the
monthly statement of receipts and expenditures of the Government
2,096
-551
331
257
-312
-202
-956
4,159
-4,399
140
-23
486
781
399
-641
-1,408
615
-77
-33
-73
86
1
-10
50
2,160
-121
5
75
83
(for explanation of reporting bases, see page II); estimates are
from the 1961 Budget document, released January 18, 1960, including effects of proposed legislation.
Summary of Cash Transactions through the Account of the Treasurer
of the United States
(In millions of dollars)
5
1,105
1,217
6
2,435
-375
-388
-2,299
4
-4,039
-1,450
1,671
Cash held outside
Treasury, increase,
or decrease (-)
-115
5
7,819
8,014
Treasurer's account
balance , increase
or decrease (-)
-26
-33
4
6,369
9,685
Change in cash balances
-722
450
-122
554
-7U
May
Table 2.
56
73
Equals:
.
;
:
u
Treasury BalletiB
,
CASH INCOME AND OUTGO
.
Table 3«- Derivation of Federal Government Receipts fron the Public, and Reconciliation to
Cash Deposits In the Account of the Treasurer of the United States
(In millions of dollars)
Less:
Receipts
Fiscal y&BT
or month
Budget
(net)
Deductions from receipts
Excess
Introgovem- profits
mental
tax refund
transactions bond re(See Table 5) demptions
Trust
account
i/
Receipts
from
exercise of
monetary
authority
lU
29
23
-107
-32
82,107
81,893
81,660
49
59
44
-281
141
-93
81,875
82,094
81,612
4,500
4,369
94,796
102,178
40
48
1
487
-519
3
4
220
234
3,973
7,903
9,488
1
3
293
71
3,455
8,199
9,563
6
354
5
5
-243
16
118
3,441
7,600
8,286
6
-68
-327
830
5,397
8,909
11,921
5
-557
5,818
59
3,650
U
3,290
3,553
3,694
4,460
4,321
40
48
4,460
8,124
9,722
486
217
Z30
1,009
2,004
1,474
4,032
7,901
9,057
348
316
889
828
2,329
1,708
5,737
9,595
11,289
272
4
7,265
9,581
359
199
5,074
6,555
1,490
3,301
6,563
9,856
189
167
2,116
2,199
2,110
2,061
68
56
2,739
23
1957
1958
1959
71,029
69,117
68,270
U,369
85,397
3,242
49
16,329
17,084
85,U6
3,493
85,355
1960 (Est.)
1961 (Est.)
78,600
84,000
20,696
22,547
99,296
106,547
3,246
5,679
8,486
1,2U
2,444
1,236
3,023
5,897
7,582
4,909
1960- January
February
March
April
May
. .
. .
—
Source: See Table 1.
preceding sections
1/ Treated as noncash
and as cash refund
73
29
56
4
6
3a
3,678
7,579
894
8,163
5
277
364
6
205
5,461
9,Z31
11,084
4
5
5
194
171
6,369
9,685
4
Details of baslo receipt figures appear in
in the Bulletin.
refund deductions from receipts when issued
deductions when redeemed.
Adjustmsnt for
net difference in the
due to report- Treasurer's
account
ing method (see
also Table 4)
73
68
70,198
73,754
73,811
69,926
79,851
.
Equals
Cash
deposits
68,081
71,345
71,815
67,758
77,079
68,013
71,499
71,627
67,836
77,088
8,807
8,929
9,155
9,536
11,685
October
November.
December.
Plus: Receipts
from exercise
of monetary
2,185
2,255
2,183
2,090
2,763
61,391
64,825
64,655
60,390
68,165
1959-July
August
September.
Reconciliation to cash transactions in Treasurer's account
authority 2/
2/
1953
1954
1955
1956
1952
Total deductions
Equals
Federal
receipts
from the
public
5
5
-210
94,836
102,226
4
9,681
Consists of seigniorage and the increment resulting from reduction
In the weight of the gold dollar; excluded from receipts from the
public but included in cash deposits in the Treasurer's account,
less than $500,000.
Table 4.- Derivation of Federal Government Payments to the Public, and Reconciliation to
Cash Withdrawals from the Account of the Treasurer of the United States
(In millions of dollars)
July
I960
15
.CASH INCOME AND ODTGO.
Table 5.- Intragovernmental Transactions Excluded from Both Receipts and Payments
... .
:
Treasury Bulletin
16
CASE nrCQME AND OUIGO
Table 7.- Derivation of Federal Government Net Cash Debt Transactions with the Public,
and Reconciliation to Net Cash Debt Transactions through the Account of the
Treasurer of the United States
(Net borrowing, or repayment of borrovdng
(-); in millions of dollars)
Change in public debt and agency obligations held by the public
Fiscal year
or month
Plus: Net sale of obligations
of Government enterprises in
the market
Public debt
increase, or
decrease (-)
1952
1953
195i
1955
1956
3,883
6,966
5,189
3,115
-1,623
1957
1958
1959
Governmentsponsored
enterprises
Public and
trust enterprise funds
lU
-186
-59
33
11
-U
602
Less: Net investment in Federal
securities by Government agencies
seciirities
Trust funds
269
872
-2,22i
5,816
8,363
1,085
567
71
-167
1,222
1960 (Est.)
1961 (Est.)
-206
-4,500
985
906
885
208
-57
1959-July
August. . .
September.
1,7U
-1
51
-2,100
155
2,957
-664
209
102
October
November.
December.
1960-January.
February..
March
April
May
3
287
-501
-3 ,757
.
3
105
104
U3
1,961
579
153
lass:
Fiscal year
or month
179
U6
171
549
a
biUs 2/
5/
161
185
258
240
1,037
-5,845
364
178
79
-686
646
-329
16
155
19
12
-92
-82
117
185
-52
-682
12
-12
15
56
24
-16
174
-96
-61
-290
-891
186
292
701
21
UO
127
-35
-54
-718
-4,139
-155
166
-279
1,059
-17
38
-128
121
-202
Armed
forces
leave
bonds
^
Notes to
International
Monet aiy
Fund
^
-9
109
155
91
1957
1958
1959
388
254
801
1960 (Est.)...
1961 (Est.)...
375
125
1959-July
August. .
September
229
-8
-7
Excess
profits
tax
refund
bonds 6/
28
Total
deductions
Equals
Net cash
borrowing
from the
public, or
repayuient
(-)
680
722
618
6U
-292
-200
2,160
-3 ,100
-2
-1
250
523
124
414
-5,969
239
31
-9
4,605
1,339
-1,457
10
74
10
105
97
111
3,656
-763
118
-6
-154
30
32
U7
554
26
54
-100
April
2
10
12
May
6
47
53
:
See Table 1,
2,U7
-322
10
-18
Footnotes on following page.
Less:
Transactions
not
reflected
in
the
Treasurer's
account 7/
549
505
646
-674
-450
1,361
Source
343
170
155
-6
-4
-2
1950-January.
Februaiy
March...
3,760
-665
-505
2,919
2,512
1,809
-4,355
623
23
4,844
1,370
-1 ,466
123
175
95
3,640
3,130
2,454
-3,743
1,769
36
Issuance of public debt securities representing expenditures, or refunds of receipts 4/
Adjusted
service
bonds
101
1/
-3,392
5,550
10,837
-U
October.
November.
December.
175
153
Deductions for noncash and other transactions
Net
accrued
interest
on
savings
bonds and
Treasury
49
-9
held by the
public, or
decrease (-)
461
-68
-58
-24
1953
1954
1955
1956
101
79
-77
126
101
2,262
105
-1,215
758
718
524
497
456
1952
Governmentsponsored
enterprises
102
86
56
Public
enterprise
funds
3,355
3,068
1,686 i/
1,236
2,516 2/
173
3,976
Equals:
Increase in
5,750
8,678
233
256
230
399
Equals;
Net cash
borrowing
through
the
Treasurer's
account or
repayment (-)
,
-674
2,763
2,255
1,579
-4,765
-3 ,548
5,253
8,032
414
-5,959
69
78
23
U
6
13
4,537
1,261
-1 ,480
3,542
-768
a9
-7U
-84
155
-901
-4,039
29
-4,068
2,435
-375
56
2,369
-451
75
538
July
i960
17
CASH INCCME AND OUTGO
Footnotes to Table 4
Not operating eipondlturee, or rocelpta (-), as oeaaurcd by fmda
ptroTlded t)7 or applied to not aecurltj transactions reflected In
Treasury roporta (see Table 7). To a large extent, these GoTemmentapooaored enterpriaea aecur© funds for their operations by direct
borrowing Tr<m the public or by cashing Federal aecurltlee which
they hold, and they apply the net Incrane received ftca operations
to repayment of borrowing from the public or to Inveatmont In Federal
seourltlea. On that baaia, net expenditures for operatlona are
shown In thla table In terma of the combined net of disinvestment in
Federal eecurltles and sale of agency obllgatlona in the market.
l^
and net receipts frcni operatlona are shown In terma of the combined
net of Investment In Federal aecuritiea and redemption of agency
obligations In the market.
Not reported prior to 195U.
See Table 7, footnote 1.
Does not Include revolving fund receipts representing acquired
»»ouritloa aaoAtlag to $1,61^3,070 (par value).
Footnotes to Table 5
Federal Intermediate credit bank franchise tax through December 19^
and, beginning 1953, also reimbursement by Panama Canal Ccmqwny for
expenaea and services.
Includes reiJDbursement by Federal Old-Age and Survivors Insurance
Trust Fund and Federal Disability Insurance Trust Fund for Administrative expenaea, and alao for refunds of taxes (treated as an
offset to refunds rather than being credited to receipts) beginning
with 1953 for the former aal 1959 for the latter; re Unbur accent by
Highway Truat Fund for refunds of taxes; reimbursement by the Diatrict
of Columbia; payment of dividends, intereat, etc., by Federal Natlcmal
Mortgage Asaociation'a secondary market operations; and Federal
intermediate credit bank franchise tax and repayment of capital
stock to the Treasury after December 1956 and before January 1959.
Coneleta of payment of earninge and repayment of capital stock to
the Treasuiy for 1952; and payment of franchise tax by banks
for cooperetlvee beginning 1955, onA. by Federal intermediate credit
bonks beginning Janiiary 1959.
Includes relatively small amounts of deductions from aalarles paid
by truat funds and Government -sponsored enterprises. Beginning with
fiscal year 1953 excludes deductions from salaries of District of
^
6/
»
Colianbla employees (aee footnote 6), and beginning with flecal year
1959 eicludee voluntary contributions.
Cooalsts of payments to en^loyees' retirement funds representing
United States and Government corpcratlon shares of contributlona;
payaenta to the Pallroad Retirement Account (for creditable military
service), the Ubemployoent Truat Fund, veterana* life insurance funds.
Judicial Survivors Annuity Fund, truat fund for technical services
and othar aaalatance under the agricultural conservation program, and
Diatriot of Colimbla; and awards of Indian Claims Commlasion.
Includes payment by Diatrict of Columbia to the Civil Service retirement fund for its share of contributions, and beginning with 1958
also deductions from its payroll; financial adjustments among Railroad Retipement Account, Federal Old-Age and Survivors Insurance
Trust Fund, Federal Disability Insurance Trust Fund, and Uneraployment Trust Fund jtranaf era from Civil Service retirement fund to
Foreign Service retirement fund from 1955 through 1957; and
transfers from Railroad Unemployment Insurance Administration Fund
to Onemplpyment Trust Fund through 1955.
Less than $500,000.
Footnotes to Table 6
Accrued discount on savings bonds and bills less intereat paid on
savings bonds and bills redeemed.
Public debt interest due and accrued beginning June 30, 1955, effective
date of the change In accounting and reporting from a due and payable
basis to an accrual basis; for 195ji, consists only of public debt
interest checks and coi^one outstanding; net increase, or decrease
(-).
Not reported as a separate clearing accoimt prior to 195i*
Treated aa noncash expenditures at the time of iasxiance of the
securities and as cash expenditures at the time of their redenptlon;
net issuance, or redemption (-).
Issued in 1936 in exchange for adjusted service certificates held by
veterans of World War I. The bonds matured in 194.5.
Issued in 19^7 in payment for accumulated leave. The last of these
bonds matured in 1951.
Part of the United States subscription to the capital of the International Monetary Fund was paid in the form of nonintereat-bearing
nonnegotiable notes payable on demand (see 194.7 Annual Report of
the Secretary of the Treasury, pages 48, 350, and 385).
2/ Cheeks outstanding less deposits in transit, and changes in other
accoxmts; net increase, or decrease (-). Prior to 1954 includes
alao public debt interest due and xmpaid (see footnote 2).
8/ Includes $1,031 million of notes issued as part of the additional
United States subscription to the Fund authorized by an act
approved June 17, 1959 (see "Budget Receipts and Expenditures,"
Table 3 , footnote
)
*
1*33 than $500,000.
6/
U
Footnotes to Table 7
In this table, beginning 195A, in accordance with treatment in Budget
documents, net Investment in United States securities by Governmentsponsored enterprises includea a small amount by other enterprises
regarded as representing net transactions with the pxibllc.
In Table 4.
under "Trust Accoxint and Other Transactions," these amounts are in-
eluded in trust and deposit fund account investment.
Does not include investments representing acquired securities amounting
to $1,6^3,070 (par value) and donation of securities amounting to
$45,800 (par value).
Accrued discount on savings bonds and bills, which is included in the
principal of the public debt, less interest paid on savings bonds and
bills redeemed.
2/
Treated as noncash tranaactlons at the time of issuance and as cash
transactions at the time of redemption; net issuance, or redemption (-).
Excluded from borrowing because the transactions are treated as expenditures in Table 6.
Excluded from borrowing because the transactions are treated as deductions from receipts in Table 3.
^fa^ket transactions in public debt securities and agency obligations.
»
Less than $500,000,
4/
^
6/
Treasury Bulletin
18
.ACCOUNT OF THE TREASURHl OF IHE DKITH) STATES.
Source and Availability of the Balance in the Treasurer's Account
The account of the Treasurer of the United States
account to the tax and loan account In the same bank. On
occasions, to the extent authorized by the Treasury,
reflects not only budget receipts and expenditures but
also trust, deposit fund, and public debt transactions.
banks are permitted to deposit In these accounts proceeds
from subscriptions to public debt securities entered for
The working cash of the Treasury Is held mainly In
their own account as well as for the account of their
customers.
Treasurer's accounts with Federal Reserve Banks and
branches.
As the balances In these accounts become dethey are restored by calling In (transferring)
funds from the tax and loan accounts with thousands of
pleted,
The tax and loan account system permits the Treasury
to leave funds In banks and In the comaunltles In which
commercial banks throughout the country.
they arise until such time as the Treasury needs the funds
for Its operations.
Deposits to tax and loan accounts occur In the
normal course of business under a uniform procedure
In this way the Treasury Is able
to neutralize the effect of Its fluctuating operations
on bank reserves and the economy.
applicable to all banks whereby customers of banks deposit
with them tax payments and funds for the purchase of
Government securities.
In most cases the transaction
Involves merely the transfer of money from a customer's
A detailed description of the Treasury's depositary
system may be found In the Annual Report of the Secretary
of the Treasury for 1955,
pages 275-281+.
Table 1.- Status of the Account of the Treasurer of the United States
(in millions of dollars)
Treasury operating balance
End of
fiscal
year or
month
1952
1953
,
1954
1955
1956
,
Available
funds in
Federal
Reserve
Banks
Tax and loan
accounts In
special
depositaries
Gold in
Treasury
fund
5,106
3,071
4,836
4,365
4,633
1,009
UO
333
132
875
380
522
984
497
493
501
Silver,
Total
coin, and
operating CTirrency
balance
Unclassified
collections,
etc.
6,448
4,187
6,207
5,239
5,656
194
161
191
187
159
34
In Federal
Reserve
Banks in
process of
collection
In other
depositaries
Total
assets
Liabilities
1/
of n. S.
450
463
520
500
438
7,481
5,096
7,243
6,362
6,712
S12
426
476
37
355
210
274
343
4Z1
U7
75
50
93
Balance in
account of
Treasurer
U6
166
6,969
4,670
6,766
6,216
6,546
1957
1958
1959
498
4,082
8,218
489
401
UO
365
6,037
9,990
101
190
259
306
302
287
3,7U
5,069
9,030
4,380
37
49
535
63
273
429
5,451
240
100
5,590
9,749
5,350
1958-Dec.,
358
3,468
396
4,222
292
46
UO
399
5,099
138
4,961
1959-July,
522
537
704
4,364
5,227
4,992
175
111
201
406
392
424
5,930
6,709
93
6,159
297
289
279
60
42
5,353
106
110
102
7,103
92
87
5,837
6,617
7,017
4,990
3,559
4,216
109
102
106
5,587
4,243
4,825
280
291
279
64
32
171
137
165
380
378
371
6,482
5,081
5,696
106
113
113
6,376
4,968
Dec,
488
582
504
196CI-Jan.,
567
102
100
109
3,915
4,397
4,395
298
299
271
74
79
192
431
411
360
4,969
5,406
5,297
108
56
251
243
108
4,862
5,311
5,189
107
107
5,215
268
42
U7
6,749
272
50
150
441
377
6,412
7,598
118
87
6,294
7,511
Aug.,
Sept,
Oct.
Nov.,
Feb.
Mar.
453
549
3,246
3,843
3,738
Apr.
619
462
4,490
6,180
May.
5,875
Source: Daily Treasury statement.
1/ Consists of Treasurer's checks outstanding, reserve and other deposits
of Board of Trustees of the Postal Savings System, uncollected items,
exchanges, etc., beginning December 1954; prior to that tinK inclxided
also Post Office DepartniBnt and Postmasters' disbursing accounts (see
footnote 2).
2/ Beginning Dsoember 1954, Post Office Ctepartment and Postmasters'
41
55
95
5,583
disbursing accounts are no longer treated as liability accounts
of the Treasurer of the United States, but are classified and
treated in the same manner as other disbursing accounts, in
accordance with the change in method of reporting Post Office
transactions (see "Budget Receipts and Expenditures," Table 3).
An adjustment of - $207 million in the balance in the Treasurer's
account (and in the "clearing account") reflects this change.
July
mo
19
.ACCOUNT OF THE TPEASUFER OF THE UNITED STATES.
Table 2.- Analysis of Changes In Tax and Loan Account Balances
(In
millions of dollars)
During period
Proceeds from sales of securities i/
Fiscal year
or month
Savings
bonds
Savings
notes
Tax
anticipation
Withheld
and
excise 2/
secTorities
287
Income (by
special
arrangement) 2/
Total
credits
13,270
10,227
4,791
2,967
4,611
36,493
41,267
5,409
8,776
7,493
7,299
5,486
1,425
950
1,649
1,910
1,103
3,255
4,082
8,218
3,7U
6,078
8,869
8,055
813
58,520
46,000
50,908
62,994
1,078
912
2,987
3,246
3,638
1,133
4,113
5,523
3,468
4,355
1,728
3,133
5,801
4,364
5,227
5,353
5,765
5,382
5,454
2,467
2,916
2,885
4,486
4,179
4,276
5,663
2,384
4,857
5,212
3,058
4,374
3,808
4,170
2,891
1,716
2,248
3,464
3,126
3,425
2,451
5,243
5,0U
2,333
1956
3,457
4,424
3,810
6,861
5,977
6,035
4,304
8,167
786
13,579
15,859
19,898
20,538
23,897
1957
1958
1959
2,976
2,824
2,668
5,043
2,922
7,581
6,568
13,513
13,164
26,709
27,881
29,190
4,152
45,448
7,903
5,919
55,
2,746
195 8- December.
234
195 9- July
August.
202
176
172
2,915
974
October.
November.
December.
202
197
1,925
1960- January.
February.
319
.
September
1,900
2,135
1,921
225
1,970
2U
April
May
222
209
42,074
39,U0
OU
1,3U
89
3,665
3,057
6,421
4,816
1,285
4,5U
3,952
4,388
1,072
3,463
3,067
63
1,109
5,396
3,660
6,322
5,759
5,091
5,665
4,990
3,559
4,216
4,354
3,638
5,644
3,246
3.843
3,738
4,559
2,773
4,a2
3,870
3,991
3,373
1,737
3,384
4,235
5,539
1,940
1,217
34
3,413
2,662
4,490
4,490
1,390
3,075
15
4,132
4,357
2,666
6,180
6,308
4,265
5,467
Source: Office of Fiscal Assistant Secretary; figures are on basis of
telegraphic reports.
1/ Special depositaries are permitted to make payment in the form of
a deposit credit for the purchase price of United States Government
obligations purchased by them for their own account, or for the
account of their customers who enter subscriptions through them,
when this method of payment is permitted under the terms of the
circulars inviting subscriptions to the issues.
Taxes eligible for credit consist of those deposited by taxpayers
in the depositary banks, as follows: Withheld income tax beginning
^
a,6U
1,059
3,932
3,559
303
March
Average
High
5,106
3,071
4,836
4,365
4,633
4,679
2,231
1953
1954
1955
End of
period
37,066
43,303
39,879
42,545
38,871
2,226
2,667
1952
Withdrawals
36
2/
3,843
4,642
March 1948j taxes on employers and employees under the Federal
Insurance Contributions Act beginning January 1950, and \uider
the Railroad Retirement Tax Act beginning July 1951; and a
number of excise taxes beginning July 1953.
Under a special procedure begun in March 1951, authorization
may be given for income tax payments, or a portion of them,
made by checks of $10,000 or more drawn on a special depositary
bank to be credited to the tax and loan account in that bank.
This procedure is followed during some of the quarterly periods
of heavy tax payments.
..
.
)
,
,
Treasury Bulletin
so
.DEBT OOTSTANDDIG,
Table 1.- Summary of Federal Securities
(In millions of dollars)
Public debt
End of
fiscal
year or
month
Total 1/
1952
1953
195i
1955
1956
,
1957
1958
1959
Matured debt and debt bearing no interest
Interest-bearing debt
Total outstanding
,
Public
debt 2/
Guaranteed
securities i/
Total
Public
debt
Guaranteed
securities 2/ 4/
Monetary
Fund 5/
Total
{matured
550
525
502
2,244
2,126
2,351
2,634
2,869
2,242
2,125
2,350
2,633
2,868
419
298
437
589
666
1,274
1,302
1,411
1,567
1,742
477
460
106
101
110
2,042
1,646
2,042
1,646
2,873
2,873
529
597
476
1,068
618
1,979
444
430
417
259,151
266,123
271,341
27/,, /US
272,825
259,105
266,071
271,260
274,374
272,751
46
52
81
44
74
256,907
263,997
268,990
271,785
269,956
256,863
44
263 ,946
51
268,910
271,741
269,883
80
43
270,634
276 ,Ui
284,817
270,527
276,343
284,706
107
101
111
268,592
274,798
281,944
268,486
274,698
281,833
73
Guaranteed
securities 1/
Other
1958-nBcember.
283,031
282,922
109
280,947
280,839
108
2,084
2,084
903
757
43
1959-July
August...
September
288,792
290,506
288,412
288,682
290,396
288,296
110
111
116
285,948
287,709
109
110
115
2,844
2,798
2,810
2,842
2,797
2,810
437
412
426
1,989
1,971
1,971
416
285 ,602
285,840
287,599
285,486
October. ..
November.
December.
291,372
290,713
290,925
291,253
290,589
290,796
118
124
127
288,596
287,866
287,830
288,478
287,742
287,704
118
124
127
2,776
2,847
3,095
2,775
2,847
1,981
2,055
2,065
411
412
3,094
382
380
618
291, a5
130
288,215
290,719
286,965
291,085
290,583
286,826
U5
287,73
3,000
2,996
3,055
2,999
2,995
3,054
463
2,095
2,127
2,181
410
410
283,910
130
135
138
494
459
138
288,086
287,588
283,772
288,919
289,500
288,787
289,367
132
285,904
286,441
285,773
286,308
131
133
3,015
3,059
3,0U
413
2,191
3,059
U2
2,38
411
409
1960-JanuaTy.
February.
March
April
May
133
Source: Dally Treasury statemsnt.
For
Includes certain obligations not subject to statutory limitation
amoxmts subject to limitation, see page 1.
Includes debt incurred to finance Government agencies (see Table 6).
Excludes guaranteed securities held by the Treasuiy.
i/ Consists of Federal Housing Administration debentures beginning 1953
and also D. C. Araory Board stadium boraJs beginning July 1959.
^
1/
6/
W.
413
Ul
Ul
Special notes of the United States issv^d to the International Monetary
Fund in payment of part of the tJ. S, subscription. In 1959, l,031
million of notes were Issued for part of the additional subscription
authorized by an act approved June 17, 1959 (see "Budget Receipts and
Expenditures," Table 3, footnote H).
For current month detail, see "Statutory Debt Limitation," Table 2.
Table 2.- Computed Interest Charge and Computed Interest Rate on Federal Securities
(Dollar amounts in millions)
Computed annual interest rate
Total interest-bearing secuxltiea
End of
fiscal year
or month
1952
1953
1954
1955
1956
,
1957
1958
1959
,
1958- December.
Amount
outstanding
Public debt
and guaran- Public
teed securi- debt
ties i/
Computed annual
interest charge
Public debt
Marketable issues
Total
interestbearing
securities
Total
public
debt
Public debt
and guaranteed securities 1/
Public
debt
5,981
6,431
6,298
6,387
6,950
2.329
2.438
2.342
2.351
2.576
2.329
2.438
2.342
2.351
2.576
2.051
2.207
2.043
2.079
2.427
1.711
2.254
Total
Bills
2/
2/
3.345
3.330
2.842
2.504
2.806
3.304
2.482
2.576
2.619
2.853
2.892
2.925
2.635
2.630
2.694
2.611
2.622
2.628
2.930
2.212
2.954
2.592
2.909
2.646
2.6a
2.699
2.699
2.699
2.624
2.634
2.632
7,325
7,245
8,066
2.730
2.638
2.867
2.730
2.638
2.867
2.707
2.546
2.891
3.197
280,947
280,839
7,546
7,543
2.689
2.689
2.624
2.909
3.072
3.138
2.954
3.207
October..
November.
December.
288,596
287,866
287,830
288,478
287,742
287,704
9,193
9,357
9,469
9,190
9,354
9,466
3.194
3.a60
3.300
3.194
3.260
3.300
3.319
1960-Januaiy .
Februaiy.
March ...
288,215
9,576
9,686
9,443
9,573
9,683
9,440
3.334
3.378
3.336
3.334
3.378
3.336
3.518
3.584
283,910
288,086
287,588
283,772
3.53
285,904
286,441
285,773
236,308
9,477
9,503
9,474
9,499
3.325
3.327
3.325
3.327
3.500
3.505
April
May
1.033
3.316
7,328
7,248
8,069
2.909
3.072
3.137
287,73
Source: Daily Treasury statement.
Hotat The computed annual interest charge represents the amount of interest
that would be paid if each interest-bearing issue outstanding at the end
of each month or year shoiild remain outstanding for a year at the applicable annual rate of interest. The charge Is computed for each issue by
applying the appropriate annual interest rate to the amoimt outstanding
on that date. The aggregate charge for all interest-bearing issues
constitutes the total computed annual interest charge. The average
annual Interest rate is computed by dividing the computed annual interest
charge for the total, or for any group of issues, by the corresponding
3.38
3.a8
3.473
1/
2/
2/
^
1/
V
2.578
2.575
2.547
2.590
2.606
268,486
274,698
281,833
8,296
8,812
8,935
anteed
securities
2.675
2.746
2.671
2.585
2.705
268,592
274,798
281,944
8,299
8,815
8,939
Special
issues
2.659
2.720
2.751
2.789
2.824
268,910
271,741
269,883
285,840
287,599
285,486
able
issues
2.317
2.342
2.tt0
2.480
2.485
5,982
6,432
6,300
6,388
6,952
285,948
287,709
285,602
,
Treasury
bonds
1.560
1.754
1.838
1.846
2.075
256,863
1959-July
August .
September
Certificates
1.875
2.319
1.928
1.173
2.625
256,907
263,997
268,990
271,785
269,956
263 ,946
Guar^
Nonmea"ket-
.843
1.539
2.654
3.577
3.670
3.847
2.842
3.650
3. 650
3.302
3.782
3.776
2.619
2.619
2.619
2.928
2.931
3.159
4.111
4.265
4.500
3.650
4.130
4.130
3.838
3.910
3.918
2.619
2.619
2.619
3.166
3.171
3.189
2.699
2.701
2.701
2.632
2.638
2.652
4.677
4.666
4.475
4.130
4.749
4.749
3.917
4.010
4.006
2.619
2.619
2.619
3.193
3.199
3.206
2.702
2.707
2.707
2.657
2.659
2.660
4.33
4.749
4. 210
4.7a
4.001
4.085
2.627
2.627
3.ai
3.a5
2.707
2.712
2.678
2.682
principal amount. Beginning with data for December 31, 1958, the
computation is based on the rate of effective yield for issues sold
at premium or discount.
Prior to that date it was based on the
coupon rate for all issues.
Excludes guaranteed securities held by the Treasury.
Total includes "Other bonds"; see Table 3.
Included in debt outstanding at face amount, but discount value is
used in computing annual interest charge and annual Interest rate.
On United States savings bonds the rate to maturity is applied
against the amount outstanding.
July
I960
21
-DEBT OUTSTAM)ING.
Table 3.- Interest-Bearing Public Debt
(in mllllono of dollars)
Public Issues
Total
Interestbearing
End of
flacal
year or
month
pniblic
debt
Nonniarketable
Treasury bonds
Total
public
Issues
Certificates
447
411
417
310
46,827
46,246
37,739
40,538
42,229
43,250
27,3U
8,365
196
171
183
36,364
26,072
83,352
50
60,412
51,192
9,017
203
44,840
37,029
38,631
37,128
33,843
20,343
20,343
27,341
40,654
40,758
84,794
84,786
84,778
50
50
50
58,722
58,413
58,029
50,221
49,983
49,721
8,318
8,251
8,132
183
44,061
179
176
U,723
187,433
186,957
188,269
39,130
39,134
39,643
20,343
19,669
19,669
43,141
43,341
84,770
84,763
84,754
50
50
50
57,U9
57,204
55,928
49,434
49,280
48,154
7,824
7,736
7,590
191
188
184
43,596
43,582
43,506
41,156
41,160
37,153
19,669
15,245
15,238
48,198
48,284
84,746
84,731
84,713
50
50
50
55,600
55,370
55,078
47,877
47,825
47,754
7,539
7,370
7,152
183
174
171
42,630
42,835
43,257
37,U4
15,245
17,650
50,571
47,557
85,137
50
50
54,783
47,642
42,843
54,673
47,593
6,970
6,910
171
85,U5
171
43,900
268,486
274,698
281,833
2a ,658
228,452
237,078
155,705
166,675
178,027
23,420
22,406
32,017
32,920
33,843
1958-Dec.
280,839
235,999
175,586
29,748
1959-July
285,840
287,599
241,779
242,876
241,086
183,057
184,463
183 ,057
Oct.
Nov.
Deo.
288,478
287,742
287,704
244,882
244,160
I960- Jan.
Feb.
Mar.
288,086
287,588
245,456
283 ,772
240,515
189,856
189,384
185,437
Apr.
285,773
286,308
242,930
242,408
188, U7
187,735
May.
373
13,288
12,775
12,589
12,009
11,135
1957
1958
1959
2U,753
U,046
6,612
4,453
5,079
54,622
51,984
50,503
150,354
155,206
154,953
2U,197
Depositary
bonds
65,953
61,777
59,050
226,681
228,491
224,769
285 ,486
Special
issues
Treasury
bonds,
investment
series
50
50
50
1955
1956
Aug.
Sept
U2
Treasury
savings
notes
80,789
90,883
84,803
U7,335
17,219
19,707
19,515
15,854
18,405
13,836
16,303
19, 5U
20,808
20,473
37,332
30,973
20,416
2/
V
S.
savings
bonds
57,685
57,886
58,061
58,365
57,497
140,407
223 ,408
48,200
n.
78,717
76,073
76,326
73,285
69,817
219,124
18,963
30,425
31,960
40,729
35,952
other
bonds
Bank restricted
124
96
71
50
28,43
256,863
263, 9i6
268,910
271,741
269,883
1952
1953
1954
Bank
eligible
U,152
U,Z35
63 ,980
71,706
81,057
81,840
27,460
17,245
8,672
1,913
9,6a
45,1U
U,756
44,400
their savings deposits; (2) they might temporarily acquire
such issues through forfeiture of collateral; (3) they might
hold a limited amount of such issues for trading purposes.
Consists of Panama Canal bonds, and also postal savings bonds
until the last of these bonds matured on July 1, 1955.
Source: Dally Treasury statement.
1/ Issues which commercial banks (banks accepting demand deposits) were
(l)
not permitted to acquire prior to specified dates, except that:
concurrently with the 4th, 5th, and 6th War Loans and the Victory
Loan,
they were permitted to subscribe for limited investment of
Table 4.- Average Length and Maturity Distribution of Marketable Interest-Bearing Public Debti/
(In millions of dollars)
Maturity classes
End of
fiscal year
or month
Amount
outstanding
1953
1954
1955
1956
,
195 8- December.
1959-July
August ...
yrs.
yrs.
8 mos.
4 mos.
5 yrs.
yrs.
6 mos.
10 mos.
5 yrs.
4 mos.
5
7U
155,705
166,675
178,027
71,952
67,782
72,958
40,669
42,557
58,304
12,328
a, 476
17,052
26,407
27,652
a, 6 25
4,349
7,208
8,088
4 yrs.
5 yrs.
4 yrs.
9 mos.
3 mos.
7 mos.
175,586
72,616
53,803
17,167
24,793
7,206
4 yrs.
9 mos.
4 yrs.
4 yrs.
4 yrs.
6 mos.
183,057
184,463
183 ,057
187,433
186,957
188,269
1960-January.
February.
March.
189,856
189,384
185,437
May
Average length
20 years
and over
6,594
1,592
1,606
3,530
4,351
October.
November.
December.
. .
10-20
years
25,700
28,662
28,634
28,613
28,578
September.
April.
5-10
years
13,933
15,651
27,515
34,253
28,908
150,354
155,206
154,953
1957
1958
1959
1-5
years
47,814
36,161
29,866
39,107
34,401
U0,407
U7,335
1952
Within
1 year
188, U7
187,735
46,367
65,270
62,734
49,703
58,
5
5
77,970
75,158
73,656
58,331
62,556
62,660
17,052
17,051
17,051
a, 617
a, 611
a, 604
8,088
8,087
8,087
75,836
77,947
79,941
81,455
76,735
18,326
18,325
22,139
22,138
15,240
19,931
20,3a
20,316
16,494
16,489
17,365
12,659
8,086
8,085
8,085
8,084
7,194
7,193
4 yrs.
72,7a
64,864
62,284
61,609
61,691
72,849
72,934
72,807
74,335
75,133
73,184
19,930
19,928
12,649
12,641
7,629
7,648
4 yrs.
4 yrs.
Source: Debt Analysis Staff in the Office of the Secretary.
1/ All Issues classified to final maturity except partially
4
4
4
4
yrs.
yrs.
yrs.
yrs.
4 yrs.
tax-erampt bonds, which are classified to earliest call date.
5
5
mos.
mos.
4 mos.
4 mos.
4 mos.
2 mos.
3 mos.
4 mos.
3
mos.
3 mos.
..
Treasury Bulletin
22
jjEBi:
ourarAHDiic-
Table 5.- Special Issues to United States Government Investment Accounts
(in
Federal
Deposit
Insurance
Corporation
End of fiscal
year or month
1952
37,739
40,538
42,229
43,250
45,114
1953
1954
1955
1956
1957
1958
1959
Federal
Disability
Insurance
Trust
Fund
846
892
835
673
Federal
home
loan
banks
millions of dollara)
Federal
Cld-Age
Federal
Savings
and Loan
Survivors Insurance
Insurance CorporaTrust Fund tion
and
50
50
232
200
52
U,047
50
165
165
19,463
18,610
17,227
103
15,532
17,054
18,239
19,467
79
61
84
94
103
Federal
employees
retirement
funds
5,0U
National
Government
Highway Service
Life
Trust
Ufe
Insurance
Fund
Insursmce
Fund
Fund
5,602
5,854
6,168
6,667
1,300
1,299
1,234
1,Z33
1,217
7,394
7,738
8,608
1,200
1,144
1,127
404
822
429
5,191
5,249
5,272
5,346
5,481
Postal
Savings
System
1/
552
452
213
91
6
Railroad
Retirement
Account
2,863
Dnemployment
Trust
Fund
Other
2/
3,128
3,345
3,486
3,600
7,745
8,287
8.024
7,479
7,737
3,475
3,531
3,417
7,996
6,671
5,636
123
120
9
32
24
79
112
46,827
46,546
44,756
673
629
325
996
1,533
44,840
631
1,257
165
17,753
104
8,124
1,120
386
5,625
3,503
6,055
117
44,061
6a
628
628
16,547
16,849
16,678
120
122
124
8,663
8,723
8,771
1,124
1,119
1,116
5,732
5,722
5,715
3,6U
U,723
U,400
165
165
165
251
91
September.
1,556
1,625
1,668
3,602
3,571
5,540
5,947
5,833
127
129
131
October...
November,
December..
1960-January.
February
March
43,596
43,582
43,506
42,630
42,835
43,257
616
622
629
165
165
165
16,096
15,892
15,864
165
165
165
15,223
15,247
15,667
122
122
122
122
122
122
8,802
8,843
8,893
8,922
8,986
9,050
1,111
1,105
1,100
1,097
1,115
1,109
la
5,707
5,700
5,692
5,686
5,778
5,764
3,463
3,428
3,401
3,299
3,292
3,289
5,736
5,905
5,794
5,594
5,565
5,318
132
720
721
1,647
1,667
1,715
1,668
1,709
1,793
133
134
135
137
139
April
42,843
43,900
680
687
1,823
1,906
165
165
15,576
16,030
111
100
9,067
9,13
1,104
1,097
106
58
5,755
5,742
3,188
3,188
5,128
5,663
Ul
,
1958-Dec;eniber.
1959-July
August.
,
. .
.
.
May
718
703
112
116
Source: Dally Treasury statement.
Consists of Canal Zone Postal Savings System beginning April 1958.
Consists of: Farm Tenant Mortgage Insurance Fund (through March 1956),
i/
2/
18
5,570
5,665
5,742
126
140
Adjusted Service Certificate Fund (through December 1956), various
housing insurance funds, end Veterans' Special Term Insurance Fund.
Loss than $500,000.
July
I960
23
.DEHT OUTSTAHDHC.
Table 0.- Treasury Holdings of Securities Issued by Government
Corporations and Other Agencies
(In millions of dollars)
Treasury Bulletin
21^
.STATUTORT DEBT LMITATION.
The Second Liberty Bond Aot (3I) U.9.C. 757 i^), a*
amended by an aot approved June 30, 1959. provides that
the faoe amount of obllgatlone Issued under authority of
that act,
and the faoe amount of obligations guaranteed
and ending on June
30,
I936 (acta approved August 28, 1S3^,
1, I956,
and June 30, 1955); ?3 billion beginning on July
and ending on June 30, I957 (aot approved July 9, 1956);
15 billion beginning on February 26, 1958, and ending on
as to principal and Interest by the United States (except
June 30,
guaranteed obligations held by the Secretary of the Treas-
billion beginning on July
The oorrespondlng limitation
1959 (act approved February 26, I958); $10
1, 1959, and ending on June 30,
i960 (act approved June 30, 1959); and $8 billion beginning on July 1, i960, and ending on June 30, I961 (act
in effect under the act of June 26, 1946, was 3275 billion
and that under the aot of September 2, I958, was J2S3 bil-
approved June 30, I960). Obligations issued on a discount basis, and subject to redemption prior to maturity
In addition, temporary increases have been author-
at the option of the owner, are included in the statutory debt limitation at current redemption values.
ury),
shall not exceed In the aggregate $285 billion out-
standing at
lion.
any one time.
ized as follows:
$6 billion beginning on August 28,
195^^,
Table 1.- Status under Limitation, May 31, 1960
(In milliona of dollara)
MwtI mim amount of aeourltles whloh may be outatandlng at
of June 30, 1959 (31 D.S.C. 757 b)
tjay
one tine under limitation impoeed by the act
295,000
Amount of eecurltiea outatanding aubject to auoh statutory debt limitation t
D. S, GoTemnent aecuritiea lasued under the Second Liberty Bond Act, aa emended
Guaranteed aecriritiea (excluding thoae bald by the Treaaury)
Total amount of aecuritiea outatanding subject to atatutory debt limitation
Balance iasuable under limitation
Source 1
288,960
133
289,093
5
Dally Treaaury statenant.
Table 2.- Application of Limitation to Public Debt and Guaranteed Securities
Outstanding May 31, 1960
(In millions of dollare)
Clasa of aecurity
,907
July
i960
26
July
I960
27
PUBLIC DEBT OFniATIONS
Table 2.- Offerings of Treasury Bills
(Amounts in millions of dollars)
Issue
28
July
I960
PUBLIC DEBT OPERWIONS
Table 3.- New Money Financing through Regular Weekly Treasury Bills
(Dollar arnounta in millions)
Description of issue
Issue
date
1953-Apr.
May
May
May
June
June
June
June
1953- July
23
7.
Aug.
Aug.
Aug,
6
20
27
Sept,
Sept.
Sept.
Sept.
10
17
21
21.
28.
U11.
18.
25
Sept.
Aug.
Aug.
Aug.
Aug.
date
23.
July
July
July
1955-July
July
July
July
Maturity
7.
U.
21.
28.
i.
11.
18.
25.
Sept.
Sept.
Sept.
Sept.
Sept.
1957-Jan.
31.
Fob.
Feb.
Feb.
Feb.
21.
28.
Mar.
Mar.
u.
Dec.
Dec.
26.
1958-Jan.
Jan.
Jan.
Jan.
2.
9.
16.
23.
;ter.
13.
7.
u.
7.
19.
Sept. 11.
Sept, 18.,
Sept, 25.
Oct,
Oct,
Oct,
Oct,
Oct,
16.
23,
30,
Nov,
Nov.
6,
13,
Dec.
11.
Dec,
13,
Dec.
26.
1959-Jan.
2.
Jan.
8.
Jan.
15.
2.
9.
3
Oct.
Oct.
Oct.
1
Dec.
10
1955- Oct.
Oct.
Oct.
Oct.
Nov.
Nov.
Nov.
Nov.
6
13
20
27
.
Treasury Bulletin
30
PUBLIC DEBT OPERATIONS
Table 3.- New Money Financing through Regular Weekly Treasury Bills
(Continued
I
(Dollar amounts In millions)
Description of issue
Maturity
date
Issue
date
1959-Mar.
5...
Mar.
12 2/
Mar.
19...
Mar.
26...
Aug.
13...
A-og.
20.
Aug.
27...
1960-May
May
June
19
.
p.
26 p.
2 p.
1959^
Number of
days to
maturity
Amount
of bids
tendered
Amount
of bids
accepted
Average rate
on bids
accepted 1/
New money
increase, or
decrease (-)
July
mo
31
PUBLIC DEBT OPERATIONS
Treasury Bulletin
32
PUBLIC DEBT OraRATIONS
Table 4.- Offerings of Public Marketable Securities Other Than
Regular Weekly Treasury Bills
Date BubBcrlp-
-
(Continued)
\juiy
mo
?3
PUBLIC DEBT OPERATIONS
Table 4.- Offerings of Public Marketable Securities Other Than
Regular Weekly Treasury Bills - (Continued*
Date subscription books
opened or bill
tenders received
Date
Description of aeciirlty X/
of
issue
Period to final
maturity
(ye are , months
days) 2/
Amount of subscriptions tendered
Cash 2/
Amount Issued
For
cash 2/
Exchange
In exchange
4/
Allotment
ratio
(In millions of dollars
3/22/60 - Tax ant. 8/
(At auction)
7/15/60 - At auction
3,005
7/1/59
7/8/59
4.075* Bill
7/8/59
7/15/59
4.728$ Bill
7/20/59
8/1/59
4-3/4$ Note
4-3/4$ Note
7/8/59
3.719$ Bill
3/22/60
10/1/59
1-1/2$ Note
lO/l/64-EO
5y
4? lOm
11,125
2,316
245d
3,779
2,002
7/20/59
I
I
8/13/59
5/15/64-A
8/15/60-C
10/6/59
10/15/59
5$
Note
8/15/64-B
lO/U/59
10/21/59
4.783$ Bill
6/22/6O
U/2/59
fll/l5/59
[11/15/59
25 8d
4,299
366d
3,173
.
.
Tax ant. 8/
(Reopening)
Tax ant. 8/
2,001
10m
4,184
12^
9,561
4y
Zl6d
4,184
9,561
3,a6
100
490
490
28/
(At auction)
-
11/23/59
7/20/59
4-3/4$
5/15/64-A
.
11/24/59
12/2/59
4.860$ Bill
10/17/60
.
1/5/60
10/21/59
4.726$ Bill
6/22/60
.
1/12/60
1/15/60
5.067$
1/15/61
.
2/15/60
2/15/60
4-7/8$ Certificate
4-7/8$ Note
2/1/60
r
1
4/1/60
1-1/2$
4/5/60
4/U/6O
4-1/4$ Bond
Note
4$
4/12/60
4/15/60
4.608$ Bill
5/2/60
5/15/60
\ 5/15/60
i/
4/A/60
f
I
6/8/60
7/6/60
f
Certificate
Note
Tax ant. 8/
(Reopening)
At auction
2/15/61-A
ll/15/64-C - Issued at 99.75
4y
4,085
2,016
ly
2,303
1,504 40/
4y
5y
^
ly
5A5/61-B
5A5/65-A
ly
5y
3y 11m
7y 11m
5/15/64-D
5/15/68
7/13/60
2.823$ Bill
3/22/61
Tax ant. 8/
25 2d
58
58
100
100
100 41/
470p
370p
6,715p
2,2np
2,001 42/
2,001
3
,674p
2.113P
3
,674p
2,113p
3 ,S93p
4,556p
320p
4 ,404p
22/
6,938
4,195
6,938
4,195
ly
9m
100
}
2,007
I66d
25y Ijn
Im
3-3/4* Note
3-7/8$ Bond
749
22/
3,965
4/1/65-EA
4/15/61 - At auction
749
6m
320d
5/15/75-85
5/15/63-E
t.6/23/60
("6/23/60
Reopening
at 99-3/4
At auction
7,037
3,011
7,037
3,011
ly
4y
11/15/60-C
11/15/63-C
4-3/4$ Certificate
4-7/8$ Note
320p
100
ii/
100
3,512p
(At auction)
7/12/60
7/15/60
3.265$ Bill
7/15/61
At auction
Preliminary figxires are from subSource: Bureau of the Public Debt.
scription and allotment reports; final figures are on ''clearance"
basis in dally Treasury statement,
i/ Issued at par except as noted. For bill Issues sold at auction, the
rate shown is the equivalent average rate (bank discount basis) on
accepted bids. For details of bill offerings, see Table 2. In reopenings, the amount issued is in addition to the amount in original
offering.
2/ From date of additional issue in case of a reopening.
2/ Subscriptions shown are from the public, but amounts Issued
include allotments to Government investment accounts.
4/ For maturing securities exchanged for the new Issues, see Table 6.
Exchange offering available to owners of nonmarketable 2-3/4* Treasury
Bonds, Investment Series B-1975-80, dated April 1, 1951. For further
information on the original offering see "Treasury Bulletin" for
April 1951, page A-1. Amounts shown are as of June 30, 1960.
6/ The boaJ offering was made available for exchange of Series F and
G savings bonds maturing from May 1 through Dbcember 31, 1953.
2/ Total allotments on cash subscriptions were limited to approximately
$1 ,000 million. Nonbank subscriptions in amounts up to and including
$5,000 were allotted in full. All other subscriptions were allotted
20 percent.
Commerciil banks* subscriptions were restricted to an
amoiint not exceeding 5 percent of their time deposits as of
December 31, 1952. The Treasury also reserved the right to allot
limited amounts of these bonds to Government investment accounts,
which subscribed to a total amount of $118 million. Payment for the
bonds allotted could be made with accrued interest at any time not
later than July 31, 1953.
8/ Tax anticipation bill, acceptable at face value in payment of income
and profits taxes due on the quarterly payment date immediately
preceding maturity.
2/ Tax anticipation certificate, acceptable at par plus accrued interest
to maturity in payment of income and profits taxes due on the quarterly
payment date Immediately preceding maturity.
10/ Subscriptions for amounts up to and including $100,000 were allotted
in full.
Subscriptions for amounts over $100,000 were allotted 67
percent but in no case less than $100,000.
11/ Subscriptions for amounts up to and including $10,000 were allotted
^
3
,036p
l,500p iO/
Subacriptions from mutual savings banks, insurance companies
in full.
pension and retirement funds, and State and local governments were
allotted 24 percent. All others, including commercial banks, were
allotted 16 percent but not less than $10,000 on any one subscription.
12/ Subscriptions for amounts up to and including $10,000 were allotted
in full.
All other subscriptions were allotted 22 percent but in no
case less than $10,000.
were allotted
i2/ Subscriptions for amounts up to and including $50,000
Subscriptions for amoimts over $50,000 were allotted 40
in full.
percent but in no case less than $50,000.
14/ Subscriptions for amounts up to and including $50,000 were allotted
Subscriptions for amounts over $50,000 were allotted 50
in full.
percent but In no case less than $50,000.
Subi5/ Cash subscriptions for $100,000 or less were allotted in full.
scriptions for more than $100,000 were allotted 62 percent but in no
case less than $100,000.
were allotted In full. Subscripi^ Subscriptions for $100,000 or less allotted
19 percent but in no case
tions for more than $100,000 were
less than $100,000.
17/ Subscriptions from savings-type investors totaled $749 million and
Subscriptions from all other investors
were allotted 65 percent.
totaled $970 million and were allotted 30 percent. Subscriptions
for $25,000 or less were allotted in full. Subscriptions for more
then $25,000 were allotted not less than $25,000. In addition to the
amount allotted to the public, $25 million of the bonds were allotted
to Government investment accounts. Savings-type investors were given
the privilege of deferring payment for the bonds, provided that not
less than 25 percent of the bonds allotted were paid for by July 20,
1955, not less than 60 percent by September 1, 1955, and full payment
by October 3, 1955.
18/ Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 32 percent but in no case
less than $100,000.
19/ Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 29 percent but in no caae
less than $100,000.
20/ Issued as a roll-over of bills maturing January 16, 1957, and
February 15, 1957, respectively.
Remaining footnotes on following page.
,
Treasury Bulletin
3^
PUBLIC DEBT OPERATIONS
Footnotes to Table 4
21/
22/
2^/
2A/
2^/
26/
27/
2§/
Subscriptlona In eioeea of $100,000 were allotted 31 percent for the
certificates and 12 percent for the notes. Subscriptions for $100,000
or less for both issues were allotted in full and subscriptions for
more than $100,000 were allotted not less than $100,000. In addition
to the amount allotted to the public, $100 million of the notes were
allotted to Government Inrestiaent accounts.
Redeemable at the option of the holder on Au^st 1, 1959, on three
months' advance notice.
In addition to the amounts issued in exchange, the Treasury allotted
$100 million of each issue to Government investment accounts.
Redeemable at the option of the holder on February 15, i960, on three
months' advance notice.
Subscriptions in excess of $100,000 were allotted 22 percent for the
certificates and 28 percent for the notes. Subscriptlona for $100,000
or less for both issues were allotted In full, and eubecriptiona for
more than $100,000 were allotted not less than $100,000. In addition
to the amounts allotted to the public, $100 million of each Issue were
allotted to Government investment accounts,
Subscriptions for $50,000 or less were allotted in full. Subscriptions for more than $50,000 were allotted 10 percent but in no case
less than $50,000. In addition to the amount allotted to the public,
$100 million of the bonds were allotted to Government investment
accounts.
Payment for not more than 50 percent of the bonda allotted
could be deferred tintil not later than October 21, 1957.
Subscriptions for $10,000 or less were allotted in full. Subscriptions for more than $10,000 were allotted 25 percent to savings-type
Investors and 12 percent to all other subscribers but in no case
leas than $10,000. In addition to the amount allotted to the public,
$100 million of the notes were allotted to Government investment
accounts.
tjubacriptions for $10,000 or less were allotted in full.
Subscrlptiona for more than $10,000 were allotted 26 percent to aavlnge-type
investors and 10 percent to all other subscribers but in no case
leaa than $10,000. In addition to the amotint allotted to the public,
$100 million of the bonds were allotted to Government investment
acccfunta.
29/
Subacriptlons for $10,000 or less were allotted in fiai. Subscriptions for more than $10,000 were allotted 20 percent but in no case
less than $10,000. In addition to the amount allotted to the public,
$100 million of the bonds were allotted to Government investamt
accoiints
Subscriptions for $25,000 or leas were allotted in full. Subscriptions for more than $25,000 were allotted 21. percent but in no case
less than $25,000. In addition to the amount allotted to the public,
$100 million of the notes were allotted to Government investment
accounts.
21/ Subscriptlona for $5,000 or less were allotted In full. Subscriptions
for more than $5,000 were allotted 60 percent to savings-type investors, <V0 percent to c<mmercial banks for their own account, and
25 percent to all other eubscrlbers, but in no case less then $5,000.
In addition to the amount allotted to the public, $100 million of the
bonds were allotted to Government investment acoounts.
32/ Subscriptlona for $100,000 or leas were allotted In full. Subecriptions for more than $100,000 were allotted 59 percent but in no caae
leaa than $100,000.
ii/ Subscriptions for $100,000 or less for the bills and $50,000 or less
for the notes were allotted in full. Subscriptions for more than the
mini Ml im for each issue were allotted ij^ percent on bills and 35 pez^
cent on notes but in no oaae leaa than the minimum. In addition to
the amount allotted to the public, $100 million of the notes were
allotted to Gcvemment investment accounts.
?4/ Subscriptions for $100,000 or less were allotted in full. Subacriptlons for more than $100,000 were allotted ^7 percent but in no case
less than $100,000.
30/
-
(Continued)
Subscriptions from savings-type investors totaled $720 million and
were allotted 70 percent, aobscriptionfi from coimwroial banks for
their own account totaled $i.70 million and were allotted 35 percent.
Subscriptions from all other Investors totaled $610 million and were
allotted 15 percent. Subscriptions for $25,000 or less were allottet
in full when accompanied by 100 percent payment at the time of astering the subscriptions.
All other subscriptlona for $5,000 were
allotted in full. Subscriptions for more than $5,000 were allotted
not less than $5,000. In addition to the amount allotted to the
public, $50Tnllllon of the bonda were allotted to Government invests
ment accounts.
Savings-type investors were given the privilege of
peiylng for the bonds allotted to them in Installmenta up to April 23
1959 (not less than 25 percent by Januaiy 23, 1959, the lesue date;
50 percent by February 2i., 1959i 75 percent by March 23, 1959j and
full paynent by April 23, 1959).
26/ Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 50 percent but in no case
less than $100,000. In aidition, $100 million of the notes were
allotted to Government investment accounts.
22/ Subscriptions from aavinga-type investors totaled $24^ million and
were allotted 65 percent. Subscriptions from coaasrcial banks for
their own account totaled $9il million and were allotted 35 percent.
Subscriptions trtm all other Inveatore totaled $322 million and were
allotted 20 percent. Subsorlptlons for $25,000 or less from aavingatype investors and commercial banks, and for $10,000 or less from al]
Subscriptions for more than these
others, were allotted in full.
winimiraiw were allotted not leas than the minimums.
In addition,
$50 million of the bonds were allotted to Government investment
accounts,
2S/ Pull-paid ffubacriptions of $25,000 or less, totaling $9il million,
were allotted in full. Subscriptions from savings- type investors
Subscriptions
totaled $1,361 million and w«re allotted 45 percent.
from coamercial banks for their own account totaled $6,390 million
and were allotted 8 percent, but not less than $1,000 on any one
subscription. Subscriptlona frca *n other investors totaled $2,^3
million and were allotted 5 percent, but not less than $1,000 on
any one subscription. In addition to the amounts allotted to the
public, $100 million of the notes were allotted to fVrvemment
investment accounts.
22/ Holders of approximately $1,600 million of Series F and G savings
bonds issued in 19^8, which mature in I960, were offered in exchange
the Ur-'i/lS notes, with certain adjustments as of December 15, 1959,
at a price of 99-3/4$.
Smaller denominations of savings bonds
could be exchanged for the next higher multiple of $1,000 of the
notes upon payment of any cash difference. Cash payments amounted
to $3 million.
Issued as a rollover of maturing one-year bills.
Savings-type investors were given the privilege of paying for the
bonds in installments up to Jxine 15, I960 (not less than 40 percent
by April 14, the delivery date; 70 percent by May 15; and full
payment by June 15). In addition to the amounts allotted to the
public, $100 million of the bonds were allotted to Government investment accounts.
4^ Subscriptions for $100,000 or less were allotted in full. Subscriptions for more than $100,000 were allotted 30 percent but in no oade
lesB than $100,000.
In addition to the amounts allotted to the
public, $27.4 million of the notes were allotted to Government
Investment accounts.
42/ Subscriptions for $25,000 or leaa were allotted in full. Subscriptions for more than $25,000 were allotted 85 percent but in no case
less than $25,000. In addition to the amounta allotted to the
public $71 million of the notes were allotted to Government investment accounts.
Preliminary.
25/
July
i960
35
PUBLIC DEBT OPERATIOIB
Table 5.- AllotmentB by Investor Classes on Subscriptions for Public Marketable Securlt ies
Other Than Regular Weekly Treasury Bills
^
(In millions of dollars)
Allotments by investor classes
Anoimt issued
Date of
financing
2/15/53
For
cash
'2-1/4* Cert.
^2-1/2* Bond
6/1/53
2-5/81 Cert.
6/1/54-B
6/3/53
2.383* Bill
9/18/53
800
7/15/53
2-1/2* Cert.
3/,12/54-C
5,902
8/15/53
2-5/8* Cert.
8/15/54-D
Cert.
2-7/8* Note
[
11/9/53
[
12/1/53
[
9/15/54-E
3/15/57-A
2-3/4* Bond
9/15/61
1-7/8* Note
2-1/2* Bond
l.'/15/54-B
LV15/58
ance
com pa-
1'
ries
Insur-
Mutual Corposavrations
ings
banks
187
6
150
55
9
20
261
287
98
19
99
3,698
2,279
3
4U
118
131
418
1
1
4,858
1,153
2,015
98
113
n.a.
711
n.a.
n.a.
13
Private
pension
and retirement
fundB
State and local
governments i/
Pension
and retirement
funds
Dealers
and
Other
funds
brokers
2/
2/
2/
2/
230
152
13
100
75
12
158
1/
2/
2/
JZ/
366
2/
n.a.
n.a.
162
n.a.
n.a.
115
4,520
56
40
100
917
4
1
68
175
1,499
117
82
27
411
48
2
156
79
863
2,135
2,276
106
42
131
140
96
86
654
155
50
6
279
40
219
188
190
165
93
19
16
170
12
2
1
1
61
52
339
110
13
1
100
26
43
169
46
467
7
756
269
123
535
6
92
•
218
7
163
450
50
1,296
8,175
1,748
6,997
360
5
1,174
112
43
7,007
11,177
3,922
1,508
8,733
209
2,239
2/15/55-A
11/15/61
cial
banks
2/
Individuals
620
4,724
2,997
2/
COTDier—
8,1U
1,188
6/15/78-83
5/1/53
r 2-5/8*
exchange
for other
securities
2/15/54-A
ir/15/58
3-1/4? Bond
9/15/53
152
3
2
2/15/5A
1-5/8* Cert.
[2-1/2* Bond
3/22/5A
.956* Bill
6/24/54
1,501
428
n.a.
n.a.
4/27/5A
.726* Bill
6/18/54
1,001
915
n.a.
n.a.
2/15/59-A
(2 ,205
r
I
In
Description of security
Government
investment
accounts
and
Federal
Reserve
Banks
U. S.
175
U6
139
41
68
74
28
23
1,686
1,138
1,982
986
1
2,011
39
59
3,558
3,806
995
10
847
3,091
115
54
47
100
30
31
751
120
45
18
2,718
Ul
98
70
497
69
'1-1/8* Cert. 8/15/55-D 3/
1-1/4* Cert. LV15/55-E
2-1/2* Bond
8/15/63
4,919
5,359
6,755
4,763
2,520
57
1,299
5,553
9
1
13
6
103
41
226
u
30
662
5
U2
152
37
311
156
'
8,472
3,792
4,012
63
123
15
1,065
36
43
329
3
1,9.24
1
84
10
1-7/8* Note
(
2,897
3,386
5/17/54
ij
10
[1-1/8* Cert.
5/17/55-B
Cert.
3/'22/55-C
1-1/8* Cert.
2-1/8* Bond
8/15/55-D
11/15/60
1-5/8* Note
5/15/57-B
8/2/54
1*
8/
3,734
4
216
247
558
37
36
20
6
103
1,146
219
276
294
76
156
192
369
68
117
182
II
8/15/54
I
C
[
10/4/54
1
't
lJ/15/54
"
4,155
,
!|
2/15/55
^
i
4/1/55
'
1-3/8* Cert.
6/22/55-F
Note
7/18/55
1-7/8* Cert.
7/20/55
3*
Bond
8/1/55
2*
2*
Cert.
Note
|2,532
6U
53
8/
2,202
821
6/22/56-B 8/
8/15/56-B 2/
3/23/56
2/15/57-A
6/15/58-A
8/
69
70
36
3/
12/1/56-D
6/15/58-A
112
1,747
2/15/95
2-5/8* Cert.
[2-7/8* Note
2,385
2,704
1,190
1,9U
3,174
8/
1
3,210
3/22/56-A
2.465* Bill
1.V15/55
8/
8/15/56-B
6/22/56-C
r
12/1/55
8/15/57-C
2/15/95
2-1/4* Cert.
10/11/55
,.,
3/'15/56-A
2*
5/17/55
'
1-5/8* Note
Note
2*
Bond
3*
la
1,486
6,841
1,686
130
U
308
128
1,009
39
10
19
344
4
545
2
6
355
22
6
120
240
23
256
232
354
55
135
21
203
62
82
36
1,047
37
17
1
9f^8
1
1
45
25
216
21
119
105
33
110
59
20
53
29
64
21
32
10
9
666
205
5
2
31
3
96
151
222
5,754
387
400
1,349
1,099
9,083
2,283
5,757
7,219
2,109
5,028
570
IS
12,056
8,078
1
108
16
52
37
998
478
342
261
4
24
240
137
n.a.
1,402
1,501
7
38
976
2,970
26
319
39
34
852
548
13
195
191
67
22
1,313
20
680
57
10
5
947
1
29
18
3/5/56
(2-5/8* Cert.
[2-7/8* Note
7/16/56
2-3/4* Note
8/15/56
2-3/4* Cert.
10/17/56
2.627* Bill
1/16/57
1,603
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
ill/16/56
2.617* Bill
2/15/57
1,750
n.a.
n.a,
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
3
99
60
7
161
23
3/
8/1/57-D
903
69
35
21
32
1,234
140
2,175
24
6
1
I
1
12/1/56
{3-1/4* Cert.
\3-l/4* Cert.
12/17/56
1/16/57
2/15/57
'
3,/22/57-B
8/
3,221
6/24/57-C
10/1/57-D
8/
2.585* Bill
3/22/57
8Z
3.305* Bill
6/24/57
8/
1,601
'3.231* Bill
6/24/57
8/
1,750 10/
3-3/8* Cert.
3-1/2* Note
2/U/58-A
5/15/6Q-A
iFootnotes at end of table.
1,312
7,271
1,006
12/
8,414
1,464
15
358
48
7
6,135
554
66
10
4
9
n.a.
975
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
700
n.a.
n.a.
n.a.
n.a,
n.a,
n.a.
855
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
1,159
116
725
21
48
47
26
31
5,708
131
(Continued on following page)
589
198
573
49
4-'.8
lU
U
64
168
205
Treasury Bulletin
36
PUBLIC DEBT OPEHATIONS
Table 5.- Allotments by Investor Classes on Subscriptions for Public Marketable Securities
Other Than Regular Weekly Treasury Bills
i/ -
(Contlnuedl
iJaiy
^96^
Treasurii Bulletin
3«S
PUBLIC DEBT OPERATIONS
Table 6.- Disposition of Matured Public Marketable Securities
Other Than Regular Weekly Treasury Bills
^My
mo
"w
July
M
I960
PUBLIC DEBT OffiRATIONS
Table 6.- Disposition of Matured Public Marketable Securl ties
Other Than Regular Weekly Treasury Bills - (Continued)
Amount
outstanding
Issue
date
Description
Results of exchange offers
Disposition offers
by Treasury
Galled or maturing security i/
Date of
refunding
or rotireDsnt
Cash
retire-
Exchange
security
offered
ment
Exchanged
Description of new
security offered
{See also Table 4)
Turned
in for
cash 2/
(In millions of dollars)
3-3/8* Certificate
3-1/2* Note
11/15/59
Total maturities .
iA
.
•
12/1/58
7,711
7,711
6,534
871
11/15/5 9-B
10/10/58
1,184
1,184
504
457
8,894
8,894
8,365
8/15/63-B
9/26/57
2,000
2,000
1,684
H/15/59-E
.
Note
-
306
'
223
10,895
Total
3.565% Bill
12/22/59
3.386* Bill
1/15/60
'
2/15/60
5/15/59
1,500
1,500 2/
2,006 ig/
10,895
10,049
1/15/60
4/1/59
2,006
3-3/4* Cecrtlficttte
2/15/60-A
2/15/59
11,363
11,363
(t: 163
1-1/2* Note
4/1/60-EA
4/1/55
198
198
109
529
829
Total...
32
11,561
11,561
-
4-3/4* Certificate
4-7/8* Note
-
ll/15/60-C
ll/15/63-C
4-7/8* Note
-
11/15/63-C
370
I
"
427
11,134
7,097
of 4-3/4* Certificate
3 ,011
of 4-7/8* Note
(4-7/8* Certificate
[i-7/8* Note
-
2/15/61-A
11/15/64-C
('4-7/8* Certificate
-
2/15/61-A
ll/15/64-C
[4-7/8* Note
('6,938
14,195
2/15/60
L% Note
3/22/60
4.075* Bill
3.719* Bill
4/1/60
1-1/2* Note
i/15/60
3.835* Bill
-
-
8/15/62-B
9/26/57
3/22/60
3/22/60
7/8/59
7/8/59
159 12/
3,005
999
4/I/6O-EA
4/1/55
57
4/15/60
5/11/59
2,003
159
57
2,003 18/
4* GerttficBte
-
5/15/60-B
5/15/59
1,269
1,269
3-1/2* Note
-
5/15/60-A
2/15/57
2,406
2,406
3-1/4* Note
-
5/15/60-B
1/21/59
2,738
2,738
6,413
6,413
Total
4.783* Bill
4.726* Bill
6/22/60
6/22/60
10/21/59
6/23/60
2-1/2* Bond
11/15/61
2/15/54
11,177
7/15/60
4.728* Bill
7/15/60
7/15/59
2,001
6/22/60
I
lO/a/59
I
2,002
2,016
Bureau of the Public Debt. Preliminary figures are from subSource:
scription and allotment reports; final figures are on "clearance"
basis in dally Treasury statement.
1/ Original call and matiirity dates are used.
All by investors other than Federal Reserve Banks.
2/ Tax anticipation issue; for detail of offerings beginning 1953, see
^
of 4-7/8* Certificate
of 4-7/8* Note
3,005 1/
999 2/
f
928p
I
243 p
1
/ l,038p
11.'086p
5/15/60
V
-
ll/15/60-C
ll/15/63-C
529
17/
'
1^22/59
-
4-3/4* Certificate
4-7/8* Note
}
282p
1
,708p
784p
246p
5,787p
626p
f
f
4-3/8* Certificate
4-5/8* Note
-
5/15/61-B
5/15/65-A
4-3/8* Certificate
4-5/8* Note
-
5/15/61-B
5/15/65-A
-
5/15/61-B
[4-3/8* Certificate 5/15/65-A
( 4-5/8* Note
f3,674p of 4-3/8* Certificate
I 2,113p of 4-5/8* of Note
2,002 2/
2,016 2/
/
3 ,500
V 1,500
22/
^
3
,893p
320p
3-3/4* Note
3-7/8* Bond
5/15/64-D
5/15/68
2,001 18/
Table 4; for amounts redeemed for taxes and for cash see "Nota" below.
On November 9, 1953 , the Treasury purchased from the Federal Reserve
System and retired $500 million of the 2-1/8* Treasxiry notes maturing
December 1, 1953. For further detail see "Treasuiy Bulletin" for
November 1953 , page A-1
Remaining footnotes on following page.
/^
Treasury Bulletin
1^2
PUBLIC DEBT OPERATIONS
Footnotes to Table 6
rj
u
8/
iQ/
11/
12/
li/
IV
16/
17/
18/
12/
io/
Reopening of February 2, 1953, offering (see Table 4).
It had been announced that holders of these bonds would be given an
opportunity to exchange them for another Treasury issue after February
This offer was included In the refundlngs of May 17, 1954.
15, 195i.
Reopening of August 3, 1954, offering (see Table 4).
Also designated tax anticipation certificates, acceptable at par plus
accrued interest to maturity In payment of income and profits taxes
due June 15, 1956.
Reopening of May 3, 1955, offering (see Table 4).
Reopening of November 28, 1955, offering (see Table 4).
During June 1956, $159 million of these notes were purchased by the
Treasury for account of the Sinking Fund and retired.
Also designated tax anticipation certificates.
Two issues of bills, maturing January 16, 1957, and February 15, 1957,
respectively, were rolled over into two issues of tax anticipation
bills, both maturing June 24. 1957.
During June and July 1958, $491 million of the 2-5/8$ Treasury bonds
of 1965 were purchased by the Treasury for retirement under Section
19 of the Second Liberty Bond Act, as aiended (31 U.S.C. 754a).
Called on May 14, 1958, for redemption on September 15, 1958.
Represents aiiount which owners exercised the option to redeem on
Au^st 1, 1959 (see Table 4, footnote 22).
Holders of the iS notes, who had the option to redeem at par on
February 15, 1960, by giving notice not later than November 16, 1959,
were permitted to exchange their holdings on November 15, 1959, for
the 4-7/8J notes.
Rolled over Into a one-year bill; see Table 4.
Amount which owners exercised the option to redeem on February 15,
1960 (see Table 4, footnote 24).
Under advance refunding legislation approved September 22, 1959
(P.L. 86-346, Title II), holders of 2^ Treasury bonds maturing
November 15, 1961, were offered the option to exchange the bonds
during the period from June 8, 1960 to June 13, 1960, inclusive,
subject to allotment if subscriptions exceeded by 10 percent the
offering limits of $3.5 billion for the notes and $1.5 billion for the
bonds.
Preliminary.
-
(Continued)
Information on retirement of tax anticipation Issues referred to in
footnote 3, in millions of dollars I
July
I960
^3
.UNirn) STATES SAVINGS BONDS.
Serlei E and H are the ool; saTlnga bond* now being
Series E haa bean on sale slnoe May 1, 19*^1 and
Series k-T)
Series H has been on sale slnoe June 1, 1952.
were sold from March 1, 1935, through April 30, 1911.
old.
>
Series F and a were sold froa
Majr
1,
19't^l,
throu^ J^rll
30,
1952.
Series J and E were sold from May 1, 1952,
Details of the prlnoipal changes
30, 1957.
throu^ April
in iesuea, interest yields, maturities, and other savings
bonds terms appear in the Treasury Bulletins of May 1951,
May 1952, May 1957. and October 1959.
Table 1.- Sales and Redemptions by Series, Cumulative through May 31, 1960
(Dollar amounta in millions)
:
;
)
...
Treasury Bulletin
kk-
.UNITED STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions by Periods, Series E through K
(in millions of dollara
Sales i/
Accrued
discount
Sales plus
accrued
discount
Series E and H combined
Fiscal years:
1941-1952
65,266
i,061
i,653
5,225
5,260
i,6l3
i,670
4,506
5,815
1,120
1,126
1,123
1,114
1,133
1,161
1,174
67,095
4,368
4,889
5,368
5,043
4,507
4,689
4,320
6,372
1,128
1,126
350
309
300
119
October. .
November.
December.
358
332
377
83
89
119
1960-January . .
February.
March
4a
121
438
393
93
93
340
349
89
92
1953
^
195A
1955 6/
1956
1957
1958
1959
Calendar years
1941-1952
1953
195i
1955
1956
1957
1958
1959
1,113
1,124
1,U3
1,178
1,169
Months
1959-July
August. . .
September.
April
May
86
90
71,080
Amount outstanding
Redemptions 1/ 2/
Sales
price 4/
^
Accrued
discount
^
Interest-bearing
debt
July
I960
^5
.
UNirn) STATES SAVINGS BONDS.
Table 3.- Sales and Redemptions by Periods, Series E through K
(Continued)
-
(in millions of dollars)
Period
Sales 1/
Accrued
discount
Redemptions l/ 2/
Sales plus
accrued
discount
Sales
price i/ 5/
Accrued
discount
^
Exchanges of
E bonds for
H bonds
Amount
outstanding
(interestbearing debt)
Series E
Fiscal years:
19U-1952
1953
195A
1955
1956
1957
1958
^959
!
I
I
65,236
3,700
3,988
4,095
4,219
3,919
3,889
3,688
5,815
1,120
1,126
71,050
1,123
1,114
1,133
1,161
1,174
5,218
5,333
5,052
5,049
4,862
66,913
3,906
4,023
6,372
1,128
1,126
1,113
1,124
36,175
4,032
4,319
4,490
4,622
4,981
4,951
4,889
34,752
3,532
3,765
3,854
3,964
4,265
4,236
4,118
1,423
500
554
636
658
716
73,285
5,034
38,143
1,657
5,U9
4,406
4,572
4,689
5,220
4,658
5,225
36,486
3,609
3,871
3,870
4,021
4,449
4,017
4,271
4,8a
5,1U
34,875
35,664
36,458
37,186
37,898
37,969
38,067
38,040
715
771
I
Calendar years:
j
"
19il-1952
1953
I
!
195i
1955
1956
1957
1958
1959
4,192
4,U1
35,143
36,036
36,778
37,510
38,087
37,885
38,206
37,748
531
535
702
668
772
641
955
3,875
3,802
3,598
1,U3
1,178
1,169
5,304
5,266
5,018
4,979
4,767
297
269
264
119
86
90
416
355
354
479
428
437
391
360
351
88
68
299
83
89
119
466
363
422
390
284
332
76
283
382
372
424
468
433
418
532
431
482
49
41
343
89
73
UO
334
75
32
373
405
391
334
326
71
65
22
6
26
55
6
26
55
108
196
108
196
236
236
217
4,U2
Months;
I
1*9-July
Au^st....
September.
October. .
November.
December.
305
1960-January. .
February.
March
347
340
325
121
284
300
89
92
April
May
93
93
392
37,977
37,904
37,821
86
37,737
37,746
37,748
79
91
17
Fiscal years:
1952
30
360
1953
1954
1955
665
1,130
1,041
694
782
818
1956
1957
1958
1959
30
360
665
1,130
1,041
694
782
818
-
a7
Calendar years
182
462
866
1,177
1952
1953
1954
1955
1956
1957
1958
1959
901
631
887
722
182
462
866
38
,177
901
U3
631
887
722
16
79
248
198
294
16
38
79
143
248
198
294
Months
1959-July
August , . .
September.
54
40
36
40
36
October. .
November.,
December.
59
59
49
49
29
27
29
27
72
72
32
32
73
31
98
68
26
68
27
31
26
27
April
56
56
May
49
49
23
21
23
21
,
1960-January.
February.
March, ...
.
54
28
26
28
26
32
32
37,644
37,573
37,549
37,495
37,479
!
:
..
,
Treasury Bulletin
1+6
.UNITED STATES SAVINGS BONDS.
Table 4.- Redemptions of Matured and Unmatured Savings Bonded
(In millions of dollars)
Unclassified
Total 1/
2/
Series E and H
Fiscal years:
1951
1952
1953
1954
1955
1956
1957
1958
1959
6,137
5,109
5,621
6,515
7,251
7,8i6
8,958
8,5U
7,249
817
792
1,761
2,747
3,941
4,263
4,115
3,730
3,621
38
702
1,128
1,487
1,826
1,917
1,971
1,906
1,996
779
90
633 10/
1,260 10/
2,115
2,345
254
518
47
990 10/
1,672
2,183
2,355
2,072
1,702
2,268
2,1U
1,824
1,625
5,300
4,316
3,859
3,589
3,394
3,467
4,657
4,739
3,778
4,258
3,304
2,955
2,715
2,775
4,9U
3,817
3,096
2,882
2,464
2,976
2,920
3,322
3,091
2,785
3,132
3,195
3,235
1,042
1,012
904
874
619
682
1,526
19
1
»
179
-84
116
185
1,5U
75
543
-150
1,097
929
917
-35
34
31
757
-595
Calendar years
1951
1952
1953
1954
1955
1956
1957
1958
5,651
5,074
6,U9
6,985
7,301
8,264
9,630
7,255
8,772
1959
Months
1959-July
August
772
1,015
2,318
3,171
4,230
4,246
4,156
3,393
4,701
968
1,328
1,500
2,047
1,891
2,084
1,691
2,433
4,025
3,799
3,057
3,666
3,899
5,207
3,841
4,520
3,U5
397
413
404
330
258
296
68
154
109
30
-37
-54
415
425
418
300
115
48
-132
-39
647
668
348
272
318
224
172
218
124
99
100
October.
November.
December.
742
588
1,404
279
295
1,025
189
196
225
99
800
8/'
1960-January.
February.
March. .
923
273
627
584
347
260
125
233
U8
lU
8/
8/
192
68
377
437
357
564
508
2U
177
158
66
327
54
345
775
.
. .
September.
.
April ...
May
212
Source: Daily Treasury statement; Debt Analysis Staff in the Office of
the Secretary.
Note
In these tables Series A-F and J sales axe included at issue price
and redemptions and amounts outstanding at current redemption values.
Series G, H, K are included at face value throughout. Matured
bonds which have been redeemed are included in redemptions. Matured
F and G bonds outstanding are included in the interest-bearing debt
until all bonds of the annual series have matured, when they are
transferred to matured debt upon which interest has ceased.
1/ Sales and redemption figures include exchanges of minor amounts of
(1) matured series E bonds for series G and K bonds from May 1951
through April 1957 and (2) series F and J bonds for series H bonds
beginning January 1960; however, they exclude exchanges of series E
bonds for series H bonds, which are reported in Table 3.
2/ Details by series on a cumulative basis and by periods for Series A-D
combined will be found in the February 1952 and previous issues of the
"Treasury Bulletin."
Includes both matured and unmatured bonds; see Table 4.
Includes total value of redemptions not yet classified between sales
price and accrued d:"-ount.
5/ A change in procedure, beginning in June 1954, for processing redeemed
savings bonds has resulted in a high level of redemptions not yet
classified by yearly series of issue. This increase temporarily
90
:
W
7/
8/
5/
10/
593
689
979
1,886
750
1,075
283
143
296
122
120
266
22
-U9
233
U4
274
248
263
189
94
-157
-34
244
258
83
87
-6
-48
obscures the relationship between the redemption columns showing
sales price and accrued discount in Tables 2 and 3 and also the
relationship between the matured and unmatured sections of Table A.
(See also footnote i).
The srubsequent distribution of this high
level of unclassified redemptions may be large enough in any month
to show redemptions of matured and unmatured bonds in Table i which
BTe greater than the total redemptions for that month.
Reductions were made in issues and redemptions of Series E, H, F, G,
J, and K in July 195i to compensate for the erroneous inclusion of
reissue transactions in June 195A as reported in the daily Treasury
statement. The amounts involved were as follows: |18 million for
issues of Series E and H and |17 million for issues of Series F, G,
J, and K; and $35 million for unclassified retirements.
Series F and G sales were discontinued April 30, 1952, and Series
J and K sales were discontinued April 30, 1957.
Sales figures after
April 30, 1957, represent adjustments.
Includes the December 1959 exchanges of series 19^8 F and G bonds
for U-^/iS marketable notes of which $692 million were reported in
December 1959, $51 million in January 1%0, and $3 million in
February 1960.
Represents changes in the amounts of redemptions not yet classified
as between matured and unmatured issues.
Includes exchanges of Series 19il F and G savings bonds for Treasuiy
•
Less than $500,000.
3-lA5t bonds of 1978-83.
July
I960
^7
.OWNERSHIP OF FEDERAL SECURITIES.
Table !•- Distribution of Federal Securities by Classes of Investors and Types of Issues
(in
millions of dollars)
Interest-bearing securities issued
by the U, S. Government
Total
Federal
securities outstanding
End of
fiscal
year or
month
1/
I
I
Held by U. S. Government
investment accounts
^
Total
outstanding
Public
issues
1952.
1953.
1954.
1955.
1956.
259,151
266,123
271,341
274.418
272,825
256,863
263,946
268,910
271,741
269,883
44,335
47,560
49,340
50,536
1957.
1958.
1959.
270,634
276,444
284,817
1958-Dec:.
1959- July
August ....
September.
October
November.
December.
I960- January.
February.
HD^:h
April.
Hay...
.
..
...
Special
issues
37,739
40,538
42,229
43,250
53 ,470
6,596
7,021
7,111
7,286
8,356
268,486
274 ,698
281,833
55,501
55,842
54,554
283 ,031
280,839
288,792
290,506
288,412
285,840
287,599
285,486
291,372
290,713
290,925
Interest-bearing securities guaranteed by the U. S. Government
^
Held by private
investors 2/
Held by
Federal
Reserve
Banks public
Issues
Public
marketable
issues
Public
nonmarketable
issues
Government
investment
accounts
Held by
private
investors
and
2/6/
Federal
Reserve
Banks 2/ i/
U
51
80
)
73
25
41
48
62,770
58,825
56,252
106
101
110
50
54
46
63
47
2,042
1,646
2,873
142,620
57,534
108
59
49
2,084
U9,321
55,939
55,653
55,284
109
110
115
63
63
63
45
52
2,844
2,798
2,810
54,711
54,484
53 ,225
118
124
127
64
68
70
54
56
56
2,776
2,847
3,095
52,795
52,624
52,443
130
135
138
71
71
59
63
204,920
156,701
156,599
152,477
71
66
3,000
2,996
3,055
207,089
205,987
154,936
153,961
52,153
52,026
131
81
78
50
55
3,015
3,059
45, lU
115,185
119,129
121,771
127,875
126,304
74,437
72,511
72,762
69,723
66,351
8,674
9,596
9,799
46,827
46,246
23,035
25,438
U,756
26,0U
189,949
193,418
201,235
127,179
134,593
144,983
54,338
9,498
44,840
26,347
200,154
54,037
54,584
54,184
9,976
9,862
9,784
44,061
44,723
44,400
26,543
26,690
26,563
205,259
206,325
204,739
288,478
287,742
287,704
53 ,491
53 ,698
53 ,604
9,895
10,117
10,098
43,596
43,582
43,506
26,631
26,922
26,648
208,356
207,122
207,451
153 ,645
152,638
154,226
291,215
290,719
286,965
288,086
287,588
53,125
53,157
209,497
209,223
53,588
42,630
42,835
43,257
25 ,464
283 ,772
10,496
10,322
10,330
288,919
289,500
285,773
286,308
53,127
54,286
10,283
10,385
42,843
43,900
25,558
26,035
i
150,672
U9,455
U3
56
47
2,244
2,126
2,351
2,634
2,869
The total amount of interest-bearing securities held by private investors
is calculated by deducting from the total amount outstanding the amount
held by U. S. Government investment accounts and Federal Reserve Banks.
Excludes guaranteed securities held by the Treasury.
All public marketable issues.
All public marketable issues except for 1952, which includes $1 million
of Commodity Credit Corporation demand obligations,
less than $500,000.
Table 2.- Net Market Purchases or Sales of Federal Securities for
Investment Accounts Handled by the Treasury i/
(In millions of dollars; negative figures are net sales)
lear
debt
bearing
no
interest
51
80
43
189,623
191,640
194,533
197,598
192,655
Source: Daily Treasury statement for total amounts outstanding; reports
from agencies and trust funds for securities held by U. S. Government
investment accounts; and reports from Federal Reserve System for
securities held by Federal Reserve Banks.
1/ Incliides certain obligations not subject to statutory limitation.
For amounts subject to limitation, see page 1.
2/ Includes accounts under the control of certain U. S . Government
agencies whose investments are handled outside the Treasury.
Total
outstanding
Matured
debt
and
U. S.
U
22,906
24,746
25,037
23,607
23,758
25,209
25,264
Held by
8
..
7
4
2
35
5
1^2
Treasury Bulletin
.OWNHISHIP OF FEDERAL SBCORiriES
.
Table 3.- EBtlmated Ownership of Federal Securities
(Par values 1/ In billions of dollars)
Held by banks
Total
Federal
securities
End of
month
outstanding 2/
Held by private nonbank investors
n. s.
Total
Comoei^
clal
banks
Federal
Resenre
Banks
Individuals
G ove rmnent
investment
accounts
^
2/
^
Savings bonds
Total
S & 8
Other
Other
securities
Insurance
companies
Mutual Corporasavings tions 6/
banks
State and
local
governments 2/
1939-Dec
47.6
18.4
15.9
2.5
6.5
22.7
10.1
1.9
8.2
6.3
3.1
2.2
.4
19A0-June
48.5
50.9
18.6
19.5
Z1.8
23.7
16.1
17.3
19.7
21.4
2.5
7.1
2.6
2.3
2.1
3.2
3.4
3.7
2.0
2.0
4.0
.4
.5
11.2
13.6
6.5
6.9
7.1
8.2
3.1
7.6
8.5
9.5
10.1
10.6
7.5
2.2
2.2
22.8
23.9
25.0
31.0
28.7
47.3
59.4
71.5
83.3
96.5
26.0
41.1
52.2
59.9
68.4
77.7
37.7
17.8
3.7
3.7
6.9
30.9
37.6
46.1
16.0
106.0
115.0
116.7
108.2
97.9
84.2
90.8
93.8
84.4
74.5
Dec
19U-June
55.3
64.3
Dec
19ia-June
Dec
77.0
112.5
1943-June
Dec
19ii-June
Dec
U0.8
19i5-June
Dec
259.1
278.7
19A6-Feb. 2/June. ...
Dec
279.8
269.9
259.5
19i7-June
Dec
19i8-June
Dec
258.4
257.0
91.9
252.4
252.9
19i9-June
Dec
1950-June
Dec
1951-June
Dec
1952- June
Dec
1953-June
Dec
195i-June
Dec
2.3
2.6
6.2
7.2
10.6
12.2
.2
1.1
3.4
4.2
5.4
6.5
7.9
8.7
10.1
10.7
7.8
7.6
3.2
8.7
9.2
11.3
13.1
15.1
17.3
19.6
U.9
16.9
19.1
53.0
67.0
81.7
100.2
18.8
a.
lU.O
53.3
25.5
a.
22.9
23.8
24.9
27.0
28.0
29.1
30.9
59.1
64.1
64.1
63.3
64.2
30.7
30.8
30.4
23.3
128.2
136.6
135.1
132.6
130.7
30.3
11.6
12.2
12.5
13.1
13.9
20.1
22.7
24.0
24.4
24.9
24.9
21.9
22.6
30.3
31.0
31.6
32.2
15.2
15.5
15.6
19.4
18.6
17.6
3.9
37.3
66.6
65.7
65.8
65.5
24.6
23.3
133.7
131.3
130.7
129.7
a.i
21.4
32.8
34.4
35.8
U.7
85.9
85.8
70.0
68.7
64.6
62.5
252.8
257.2
257.4
256.7
82.4
85.7
83.9
82.6
63.0
66.8
65.6
61.8
19.3
38.3
33.1
33.8
34.5
34.5
17.8
17.0
17.6
16.7
20.5
20.1
255.3
259.5
81.4
85.4
84.0
88.1
58.4
61.6
61.1
63.4
23.0
23.8
22.9
24.7
39.4
37.8
39.2
41.0
42.3
132.2
132.1
135.6
134.9
132.9
131.8
130.8
133.4
66.6
18.9
65.4
64.6
64.8
65.2
271.3
278.8
83.6
89.6
88.7
94.1
58.8
63.7
63.6
24.7
25.9
25.0
24.9
135.0
137.3
133.3
135.1
66.1
64.8
64.7
63.4
1955-June
Dec
1956-June
Dec
274.4
280.8
272.8
276.7
87.1
86.3
81.0
84.4
63.5
62.0
1957-June
Dec
1958-June
Dec
270.6
275.0
276.4
283.0
79.2
83.7
90.7
93.9
56.2
59.5
65.3
67.5
23.0
24.2
25.4
1959^Jan
Feb
March
285.9
285.2
282.2
94.0
68.2
25.7
91.7
88.7
66.3
April...
May
June ....
285.5
286.4
284.8
90.4
89.2
87.4
64.7
63.2
July
Aug
Sept
288.8
290.5
288.4
38.4
87.5
86.5
Oct
Nov
Dec
291.4
290.7
290.9
87.1
.
.
170.1
202.6
232.1
259.2
267.4
266.1
275.2
1960-Jan
Feb
March.
April
.
91.3
69.2
11.5
24.3
18.3
20.8
3.6
U.3
U.3
45.9
47.6
48.3
49.3
49.6
11.3
a.i
29.1
66.3
67.4
66.3
35.3
13.8
36.0
36.7
13.2
12.7
12.1
11.7
16.8
15.4
15.1
13.5
37.5
38.2
65.6
63.7
62.8
62.1
25.3
25.5
53.5
53.6
53.7
138.4
139.9
139.7
25.7
25.9
26.0
53.1
54.2
54.6
61.3
60.3
60.0
26.5
26.7
26.6
54.1
54.6
54.2
85.9
86.4
60.4
59.0
59.8
26.6
26.9
26.6
53.6
53.8
53.7
291.2
290.7
287.0
84.0
81.8
79.7
58.6
56.6
54.4
25.5
25.2
25.3
288.9
82.1
56.5
25.6
63.2
61.3
19.9
16.3
15.5
15.7
16.0
135.9
136.1
129.9
134.8
26.3
18.5
21.2
20.8
U.4
U.l
55.6
55.2
55.9
54.4
53.5
54.0
17.1
34.5
138.3
138.2
57.3
59.5
136.7
U.9
34.7
34.9
39.3
40.1
50.5
51.7
11.7
12.9
15.7
15.5
15.4
15.1
14.6
65.0
65.0
66.6
65.7
24.8
23.8
24.9
10.3
22.3
a.
19.8
18.7
17.1
16.5
15.7
16.0
3.9
4.5
5.3
6.1
7.3
8.3
9.6
10.7
11.1
11.5
11.3
12.1
12.0
12.0
11.5
11.6
11.4
11.6
10.9
10.2
9.8
9.6
.6
.7
4.9
.9
10.1
12.9
16.4
20.2
1.0
1.5
2.1
3.2
a.4
3.3
4.3
22.2
19.9
17.8
15.3
6.5
6.7
6.5
6.3
13.7
7.1
5.3
U.l
7.3
13.6
U.8
7.8
7.9
15.8
16.8
18.4
19.7
8.0
8.1
8.7
8.8
20.1
9.4
9.6
10.4
11.1
12.0
12.7
9.5
20.7
18.8
19.9
18.6
15.3
9.2
9.1
8.8
16.6
19.2
15.0
14.6
13.6
13.2
8.7
8.5
8.4
8.0
12.7
12.5
12.2
12.7
7.9
7.6
17.7
19.1
16.3
18.6
7.4
7.3
15.3
19.6
16.9
17.0
16.9
16.7
13.0
12.8
12.6
7.3
a.
a.6
a.o
17.0
16.9
16.8
7.4
7.4
7.3
22.4
22.9
16.9
16.8
16.7
16.0
15.9
15.4
9.5
a.
18.8
13.9
U.4
U.7
10.9
10.2
9.4
8.7
14.8
14.8
41.5
41.6
42.1
42.5
7.6
6.6
5.9
5.2
16.5
15.5
63.1
63.9
64.7
42.6
42.6
42.6
5.1
15.4
5.0
4.8
17.2
U2.0
U3.1
65.0
65.2
65.3
4.7
4.6
4.5
17.7
18.0
142.8
42.6
42.6
42.6
18.3
12.6
12.6
12.5
U6.3
U8.4
42.5
42.5
42.4
4.3
147.6
65.7
66.1
66.7
4.2
4.1
18.8
19.4
20.2
12.6
12.7
12.6
7.3
7.3
7.3
150.7
151.0
150.8
67.9
68.1
68.8
42.3
42.3
42.4
4.0
3.9
3.5
21.6
21.9
22.9
12.6
12.5
12.3
7.0
6.9
6.9
24.1
24.2
53.2
53.2
53.7
154.0
155.7
153.6
69. 6r
42.4
42.4
42.5
3.4
3.3
3.8r
70. Or
70. 9r
24. 3r
25. 2r
12.5
12.4
12.2
6.9
6.9
6.9
25. 4r
26. 2r
3.3
3.4r
17.6
17.7
17.8
53.2
153.7
70.4
42.5
3.2
24.8
12.1
6.8
3.9
17.7
U2.3
Source: Debt Analysis Staff in the Office of the Secretary.
1/ United States savings bonds. Series A-F and J, are included at
current redemption value.
2/ Securities issued or guaranteed by the U. S. Government, excluding
guaranteed securities held by the Treasury. For amoimts subject to
statutoiy debt limitation, see page 1.
2/ Consists of commercial banks, trust companies, and stock savings
banks in the Dnited States and in Territories and island possessions.
Figures exclude securities held in trust departments.
Holdings by Federal land banks are included under "Miscellaneous
investors" instead of "U. S. Government investment accounts" after
June 26, 1947, when the proprietary interest of the United States
in these banks ended.
5/ Includes partnerships and personal trust accounts. Nonprofit
40.9
a.
6/
2/
8/
^
2/
16.3
15.6
U.7
U.4
16.3
7.4
7.4
3.5
a.
3.4
24.4
22.9
3.5
15.1
15.7
16.1
17.0
17.2
17.3
17.4
17.4
17.5
institutions and corporate pension trust funds are included under
'Miscellaneous Investors."
Exclusive of banks and insurance conrpanies.
Consists of trust, sinking, and investment funds of State and local
governments and their agencies, and Territories and Island possessions.
Includes savings and loan associations > nonprofit institutions corporate pension trast funds, dealers and brokers, and investments of
foreign balances and international accounts In this country. Beginning December 19i6, includes Investments by the International Bank for
Reconstruction and Development and the International Monetary Fund in
special noninte rest-bearing notes issued by the U. S. Government.
Immediate postwar debt peak.
Revised.
,
July
1960
»;9
.TEEASTOY
SUWEY OF OWNERSHIP, APRIL
The Treasury Survey of Ovmershlp covers securities
Issued by the United States ttovernraent and by Federal
The banks and insurance corapsnlee Included In
agencies.
the Survey account for approximately 95 percent of such
securities held by all banks and Insurance companies In
Data were first published for March
the United States.
31,
ig^H,
in the May igl+l "Treasury Bulletin".
Section
I
-
30, I960.
Distribution of ownership by types of banks and insurance companies is published each month. Holdings by commercial banks distributed according to Federal Reserve member-
bank classes and nonmeraber banks are published for June JO
and December Jl. Holdings by corporate pension trust funds
are published quarterly and first appeared In the March
1951*
Bulletin for quarters beginning December 3I,
Securlee Issued or Guaranteed by the United States Government
Table 1.- Summary of All Securities
(Par values - in millions of dollars)
13^').
Treasurij Bulletin
50
.TREASUKSf
Section
I
-
SUWEY OF
OVfNERSHIP, APRIL 30, I960.
Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues
(Par valuee - In millions of dollars)
July
1960
51
.THEASDKC SUKTEY OF OWNERSHIP, APRIL 30, I960.
Section I - Securities Issued or Guaranteed by the United States Government
Table 3.- Interest-Bearing Public Marketable Securities by Issues - (Continued)
(Par values - in millions of dollars)
Treasury Bulletin
52
.TFEASOBX
Section II
-
SDWET OF OWNERSHIP, APRIL
30,
1%0.
Interest-Bearing Securities Issued by Federal Agencies But
Guaranteed by the United States Government
^fot
(Par values - in millions of dollars)
July
I960
53
.MARKET QUOTATIONS ON TREASDRI SECDRITIES, MAY 31, I960.
Current market quotations ehovm here are over-the-
public marketable securities Issued by the United States
counter oloelng bid quotations In the New York market
for the last trading day of the month, as reported to
Oovernment except Panama Canal bonds. Outstanding
Issues which are guaranteed by the United States
the Treaeury by the Federal Reserve Bemk of New York.
Oovernment are 'excluded because they are not regularly
The securities listed Include all regularly quoted
quoted In the market.
Table I.- Treasury Bills (Taxable)
tooimt outstanding (milliono)
Treasury Bulletin
5"^
.MARKET QUOTATIONS ON TREASDRI SECDRITIES,
MK
Table 4.- Taxable Treasury Bonds
31, I960.
July
I960
55
.MARKET QUOTATIONS ON TPEASURI SECURITIES, MAY 31, 1960.
O
to
>-
.
..
a
. .
.
.
..
.
Treasury Bulletin
56
.AVHIAGE YIEIDS OF LONG-THIM BONDS.
Table 1.- Average Yields of Taxable Treasury and Moody's Aaa Corporate Bonds by Par lode
(Percent per aimum)
Treaflury
bonds i/
Moody's Aaa
corporate
bonds
nirlod
Treasury
bonds jy
Hocdy's Aaa
corporate
bonds
Period
Treasury
bonds 1/
Annual series - calendar year averages of monthly series
1%2
2.46
2.47
2.48
2.37
2.19
2.25
1943
19U
1945
1946
1947
2.«J
2.73
2.72
2.62
2.53
2.61
2.U
1948.
1949.
1950.
1951.
1952.
1953.
2.82
2.66
2.62
2.86
2.96
3.20
2.31
2.32
2.57
2.68
2.94
1954.
1955.
1956.
1957.
1958.
1959.
2.55
2.84
3.08
3.47
3.43
4.08
Monthly series - averages of daily series
1953-April
May
June
2.97 2/
3.11
3.13
195 8-April.
May...
June..
1955-Ootober.
November.
December.
2.87
2.89
2.91
3.10
3.10
3.15
1956-January.
February.
March
2.88
2.85
3.11
3.08
3.10
July
August. . .
September.
3.36
3.60
3.75
3.24
3.28
3.27
October. .
November.
December.
3.76
3.70
3.80
3.23
July
August.. .,
September.
3.02
3.02
2.98
3.28
3.24
3.29
October. .
November.
December.
2.83
2.86
3.16
3.11
2.79 2/
3.13
1954-Januai7. .
February.
2.69
2.62
3.06
2.93
2/
July
August.. .
September.
3.00
3.17
3.28
3.
3.56
October. .
November.
December.
3.20
3.30
3.40
3.59
3.69
3.75
May...
June.
3.34
3.22
3.26
3.77
3.67
3.66
July
August. . .
September.
4.11
4.10
4.26
4.112/
2.97
2.93
1959-January...
February.
March
2.53
April
June
2.48
2.54
2.55 2/
2.85
2.88
2.90
July
August. .
September.
2.47
2.48
2.52
2.89
2.87
2.89
October. .
November.
December..
2.54
2.57
2.59 2/
2.87
2.89
2.90
April.
May...
June..
3.32
3.40
3.58 2/
3.67
3.74
3.91
October. .
November.
December.
3.60
3.63
3.99
4.10
4.12
1960-January. .
February.
March
1957-January. .
February..
March
2.68^
2.93
2.78
2.78 2/
3.02
July
August ....
September.
June
2.82
2.81
2.82
3.01
3.04
3.05
October. .
November.
December.
July
August....
September.
2.91
2.95
2.92
3.06
3.11
3.13
1955-January
February.
March
AprU
May
2.99
3.20 i'
3.07
March
.
3.U
April.
May...
June.
2.95
2.86
May
3.12
3.34
3.40
1958-January...
February..
March
3.66^2/
3.43
3.57 2/
3.30 2/
4.10
4.08
3.81
3.24.2/
3.28
3.25
3.60
3.59
3.63
3.73
AprU.
April.
May...
3.91 2/
3.92
3.92
4.01
4.08
4.09
4.12
4.27
4.37
4.22
4.08
4.18 2/
4.16
duly 1960
57
AVHIAGE YIELDS OF LONG-TERM BONDS.
O
a:
UJ
a.
u>
Treasury Bulletin
58
.nrraiNAL REramiE collections.
Table 1.- Summary by Principal Sources
(In thousands of dollars)
Fiscal
year
or month
1952
Budget
Adjustment of
receipts from coUections
internal
to budget
receipts 1/
+625,308
+484,439
+364,672
Total collections reported
by Internal
BevemiB Service
Corporation
income and
profits
taxes
65,009,586
69,686,535
69,934,980
66,288,692 i/
21,466,910
21,594,515
1954
1955
1956
65,634,894
70,170,974
70,299,652
66,288,692
75,109,083
1957
1958
1959
80,171,971
79,978,476
79,797,973
80,171,971
79,978,476
79,797,973
Sept
3,605,629
7,159,670
9,229,078
3,605,629
7,159,670
9,229,078
Oct.
Nov.
Dec.
3,319,057
6,852,251
7,585,525
1960-Jan.
Feb.
Mar.
Apr.
1953
1959-July
Aug.
Fiscal
year
Individual income tax and employment taxes
33,738,370
37,254,619
a, 546, 3 22 37,9a,3U
Individual
income tax not
withheld 2/
Individual
income tax
withheld 2/
Old-age and
disability
insurance 2/
Railroad
retirement
Unemployment
insurance
11,345,060
11,403,942
10,736,578
10,396,480
11 ,3a, 966
17,929,047
a,132,275
3,584,025
3,816,252
620,622
628,969
22,077,113
4,a8,520
605,2a
a, 253 ,625 A/
24,015,676 1/
5,339,573 i/
6,336,805
600,106 4/
634,323
259,616
273,182
283,882
279,986
324,656
26,727,543
27,040,911
29,001,375
6,634,467
7,733,223
8,004,355
616,020
575,282
525,369
330,034
335,880
324,020
18,264,720
21,298,522
37,869,770
42,633,426
a, 530,653
46,610,293
20,533,316
18,091,509
47,a2,9U
49,588,488
12,302,229
11,527,648
11,733,369
568, ai
1,934,472
5,667,250
4,804,280
363,807
123,154
1,836,774
1,549,816
20,
U8
701
368,049
3,311,154
5,457,9a
2,915,081
85,432
51,849
743
575
3,319,057
6,852,251
7,585,525
491,069
404,741
3,179,510
1,745,608
3,260,691
259,817
98,596
362,104
1,467,005
5,226,987
2,846,908
16,448
82,366
51,111
2,337
664
567
4,807,819
8,902,263
11,893,553
4,807,819
8,902,263
11,893,553
564 ,U8
482,804
6,192,480
3,3U,308
7,329,U9
2,U7,554
4,480,742
883,894
851,635
1,154, UO
6,077,914
3,558,391
16,153
84,457
49,942
26,461
283,183
20,774
6,957,522
6,957,522
619,305
5,U8,36
3,993,064
1,135,806
17,028
2,339
-3,566
V
75,U2,649i/
5,408,6u
July
I960
59
,
INTERNAL REVENUE COLLECTIONS
.
INTERNAL REVENUE COLLECTIONS BY PRINCIPAL SOURCES
* Btglnning with fh* fiscal yaof I955,inc(ud*$ undistributed dapositary receipts and unapplied cclttcHons. Th«mhol% amount of such
receipts for »Mcts« loMts is included under 'Ofhtr eKclse taxesT
Off>c« of
m« SccrOary
ot thi
TrMluff
.. . .
. .
,
Treasury Bulletin
60
.MOHETABY STATISTICS
.
Table 1.- Money In Circulation
(In milllona of dollars except per capita figures)
Paper money
End of fiscal
year or month
Total
money in
circulation 1/
Total
paper
money
Gold
certificates
29,026
30,125
29,922
30,229
30,715
27,348
28,359
28,127
28,372
28,767
38
37
1957
1958
1959
31,082
31,172
33
31, 9U
29,040
29,071
29,699
1958-December.
32,193
30,012
1959-July
August .
September.
31,898
31,973
31,848
29,674
29,732
29,589
31
31
31
October. .
November.,
December.
31,905
32,489
32,591 4/
29,636
30,195
30,287
31
31,569
31,552
31,633
29,301
29,277
29,340
31
31,600
31,879
29,289
29,555
30
1952
1953
195A
1955
1956
I
'
. .
1960-January. .
February.
March.
. .
AprU....
May
Treasury
notes of
1890
2/
Dnited
States
notes
Federal
Reserve
notes
24,605
25 ,609
25,385
2,U8
318
318
320
319
318
2,162
2,200
2,155
Silver
certificatea
2,088
2,122
2,135
2,170
Federal
Ra serve
Bank
notes 2/
National
bank
notes 2/
77
221
200
73
25 ,618
180
163
67
26,055
U7
64
321
317
316
26,329
26,342
27,029
133
120
110
62
2,177
311
27,318
115
58
2,126
2,126
2,126
313
27,037
27,093
26,952
109
108
108
57
57
57
31
31
2,112
2,116
2,135
316
319
312
27,013
27,566
27,647
106
106
105
57
57
56
31
31
2,008
2,017
2,054
302
308
310
26,799
26,761
26,786
104
103
102
56
56
56
2,093
2,132
312
319
26,695
26,916
102
101
56
56
35
34
33
32
31
30
316
315
70
59
57
Coin
End of fiscal
year or month
Total
coin
Standard
silver
dollars
433
453
268
1,315
1,346
474
487
285
1,U5
5U
181.52
179.08
180.18
278
1,399
505
183.34
1,U9
517
291
292
1,429
1,AA1
5a
526
179.81
179.37
178.40
1957
1958
1959
2,042
2,101
2,215
253
2,182
1959-July
August . .
September
.
,
2,224
2,241
2,259
212
223
237
419
October..
November.
December.
2,269
2,294
2,304
293
1,U7
529
295
298
1,465
1,468
535
538
178.46
181.49
181.82
1960-Jamialy.
February.
March. ...
2,268
2,275
2,294
297
298
299
1,436
1,455
535
536
540
175.92
175.63
175.87
2,311
2,324
300
303
1,467
1,475
543
175.48
176,81
April
May
Source: Circulation Statement of United States Money.
1/ Excludes money held by the Treasury and money held by or for the
account of the Federal Reserve Banks and agents; Includes paper
currency held outside the continental limits of the United States.
2/ Treasury notes of 1890 in circulation are being canceled and retired upon receipt by the Treasury.
1,U0
2/
^
^
546
^
184.90
188.72
184.24
182.91
182.64
1,202
1,259
1954
1955
1956
1958-DBcember.
Money in
circulation
per capita
(in dollars)
393
413
191
202
1953
Minor
coin
1,093
1,150
1,165
1,678
1,766
1,795
1,858
1,948
1952
Subsidiary
silver
Federal Reserve Bank notes and national bank notes are covered by
deposits of lawful money and are in process of retirement.
Highest amount to date.
Based on latest population estimates by the Bureau of the Census;
includes Alaska beginning with January 1959 and Hawaii beginning
with October 1959.
Jtth/
I960
61
.MDHETJffiT
STATISTICS.
Table 2.- Monetary Stocke of Gold and Silver
(Dollar afflounts In millions)
End of fiacal
year or month
Gold
Silver
(»35 per
fine ounce)
fine ounce)
Ratio of silver
to gold and
silver in
inonetary stocks
(in percent)
91.?'^ per
3,768.5
13.9
3,8U.3
U.5
3,863.1
3,922.4
3,994.5
15.0
4,116.6
4,306.0
4,4U.l
15.4
16.8
18.3
20,534.3
4,362.5
17.5
1959-July
August . .
September
19,625.9
19,523.8
19,490.7
4,412.7
•,,408.7
18.4
18.4
18.4
October.
November.
December.
19,585.2
19,565.8
19,455.9
4,395.0
4,387.7
4,382.7
18.3
18.3
19,U3.6
4,379.4
4,376.4
4,375.6
18.4
18.4
18.4
4,390.2
18.5
18.5
1952
1953
1954
1955
1956
23,346.5
22,462.8
21,927.0
21,677.6
21,799.1
1957
1958
1959
19,704.6
1958-December.
22,622.9
a, 356.
1960-Januaiy.
February
March
1/
4,402.3
19,420.5
19,407.8
AprU
19,359.6
19,352.1
May
Source: Circulation Statement of United States Money.
silver monetary stock see Table 4.
Table 3.-
18.4
4,390.3
1/
For detail of
(lOld
15.3
15.5
See Table 3, footnote
2.
Aeeets and Liabilities of the Treasury
(In millions of dollars)
Gold assets
End of calendar year or month
Liabilities:
Gold certlficat«s
Balance of gold in
Treasurer's account
etc. i/
1952
,
1953
1954
1955
1956
,
,
1957
1958
1959
,
,
,
23,187.1
22,029.5
21,712.5
21,690.4
21,949.5
22,178.8
21,545.7
a,458.3
1,008.2
483.7
489.0
491.2
491.2
22,781.0
20,534.3
19,455.9
22,272.9
20,138.2
19,350.5
508.1
396.1
105.4
a, 223.
a, 199.1
2/
1959-July
August ...
September
19,625.9
19,523.8
19,490.7
19,520.0
19,413.8
19,389.9
105.8
109.9
100.8
October.
November.
December.
19,585.2
19,565.8
19,455.9
19,476.7
19,464.2
19,350.5
108.5
101.6
105.4
19,443.6
19,420.5
19,407.8
19,341.2
19,320.6
19,299.2
102.4
99.9
108.6
19,359.6
19,352.1
19,253.0
19,245.2
106.6
107.0
1960- January .
February
March
Aprj 1 .
. .
May
Source: Circulation Statement of United States Money.
1/ Comprises (l) gold certificates held by the public
Reserve Banks; (2) gold certificate credits in (a)
fund - Board of Governors, Federal Reserve System,
tion fund - Federal Reserve notes; and (3) reserve
and in Federal
the gold certificate
and (b) the redempof $156.0 million
against United States notes and Treasury notes of 1890.
The United States payment of the $343.8 million increase in
its gold subscription to the International Monetary Fund,
authoriisd by the act approved June 17, 1959 {22 U.S.C. 286e)
was made on June 23 1959 (see "Budget Receipts and' Expenditures," Table 3, footnote 11).
,
.
,
.
Treasury Bulletin
62
MONBTARI STATISTICS
Table 4.- Components of Silver Monetary Stock
(In millions of dollaro)
Silver held in Treasury
End of calendar
year or month
Silver outalde
Treasury
In Treaaurer'a account
Seciiring silver certificates i/
Silver
dollars
Subsidiary
coin 2/
2,171.1
2,194.i
2,208.9
289.3
278.3
267.6
253.5
236.3
48.0
15.7
2,212.9
2,245.0
2,251.4
219.0
202.7
182.3
8.2
92.3
U.9
U8.3
3.2
127.4
September.
2,251.4
2,251.4
2,251.4
191.7
189.6
187.6
13.8
5.9
6.6
October..
November.
December..
2,251.4
2,251.4
2,251.4
187.1
184.4
182.3
9.5
4.2
3.2
2,251.4
2,251.4
2,251.4
182.0
181.6
180.1
176.2
175.2
Silver
bullion 2/
1952
1953
195A
1955
1956
,
,
,
1957
1958
1959
,
1959-July
August..
,
.
1960-Januaiy . .
February.
March. ...
April
Hay
2,109.7
2,U0.8
2,251.4
2,251.4
Bullion for
recoinage 4/
Bullion
at coat
3,794.1
3,837.0
3,886.6
3,930.1
4,064.1
269.3
285.4
305.5
1,402.6
1,446.2
1,513.4
4,185.4
4,362.5
4,382.7
153.7
151.5
296.2
298.3
U6.1
300.2
1,483.3
1,491.3
1,494.3
4,412.7
4,408.7
4,402.3
138.2
132.0
127.4
300.8
303.5
305.5
1.499.1
1,508.9
1,513.4
4,395.0
4,387.7
4,382.7
121.5
115.0
109.2
116.0
114.2
305.8
306.2
307.7
1,513.6
1,520.5
4,379.4
4,376.4
4,375.6
311.6
312.6
1,532.0
1,537.8
4,390.2
4,390.3
30.7
11.0
17.6
62.9
U.8
12.4
Source: Circulation Statement of Dnited States Money; Office of the
Treasurer of the United States,
i/ Valued at $1.29+ per fine ounce.
2/ Includes silver held by certain agencies of the Federal Government.
2/ Valued at $1.38+ per fine ounce.
^
*
at $1.29+
per fine
ounce
1,158.1
1,213.1
1,242.7
1,283.2
1,338.2
45.3
6.3
11.1
19.2
23.9
Subsidiary
coin 2/
202.5
213.2
223.1
235.4
252.2
3.9
2.3
Silver
dollars i/
Total
silver
1,5U.8
Valued at $1.38+ per fine ounce or at $1.29+ per fine ounce
according to whether the bullion is held for recoinage of aubaidiaiy
silver coins or for recoinage of standard silver dollara.
less than $50,000.
July
I960
63
MONETARY STATISTICS
Table 5.- Seigniorage
(Cxnnulative from January 1, 1935 - In millions of dollars)
Sources of seigniorage on silver bullion revalued i/
End of calendar
year or month
Seigniorage
on coins
(silver and
minor)
Newly mined silver
Misc. silver
(incl . silver
bullion held
June U, 19)0
Silver Pui^
chase Act
of Juno 19,
1934
Nationalized
silver
(Proc. of
Aug. 9, 193i)
Proclamation
of Dec. 21,
1933
4.2
274.9
397.5
541.6
758.8
950.6
25.7
48.3
63.6
65.3
65.4
759.4
799.7
818.9
820.6
820.7
1,055.8
1,089.0
1,048.2
87.6
87.6
87.6
87.6
87.6
65.5
66.5
74.5
84.6
93.5
938.1
1,069.6
1,077.6
1,087.8
1,098.1
333.2
161.2
146.8
129.9
127.2
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
87.6
104.7
114.6
125.4
134.7
143.8
150.8
155.2
156.4
166.0
167.9
1,109.3
1,119.2
1,130.0
1,139.3
111.7
81.9
57.2
34.9
6.6
1,155.4
1,159.8
1,161.0
1,170.6
1,172.5
50.0
72.9
114.0
833.7
333.7
333.7
87.6
87.6
87.6
167.9 2/
167.9
167.9
1,172.5 2/
1,172.5
1,172.5
119.4
118.1
115.1
48.7
48.7
48.7
833.7
533.7
833.7
87.6
87.6
87.6
167.9
167.9
167.9
1,172.5
1,172.5
1,172.5
107.7
102.9
986.0
991.0
997.5
48.7
48.7
48.7
833.7
833.7
833.7
34.7
34.7
34.7
87.6
87.6
87.6
167.9
167.9
167.9
1,172.5
1,172.5
1,172.5
94.0
88.7
83.5
1,002.4
48.7
833.7
34.7
87.6
167.9
1,172.5
18.5
46.1
63.7
69.5
91.7
48.7
48.7
48.7
48.7
48.7
226.2
302.7
366.7
457.7
530.7
34.5
34.7
34.7
34.7
34.7
16.8
36.0
58.0
74.9
87.3
1940
1941
1942
48.7
48.7
48.7
48.7
48.7
562.7
580.4
584.3
584.3
19U
122.2
182.1
245.7
299.6
362.3
584.3
34.7
34.7
34.7
34.7
34.7
87.6
87.6
87.6
87.6
87.6
1945
1946
1947
1948
1949
429.
491.
520.
559.
578.
48.7
48.7
48.7
48.7
48.7
701.6
832.1
832.1
832.2
833.6
34.7
34.7
34.7
34.7
34.7
1950
1951
1952
1954
1955
1956
1957
1958
1959
596.6
642.3
694.2
742.2
792.9
807.0
839.6
890.3
932.0
981.6
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
48.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7
833.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
34.7
1959-July
August
September
958.5 2/
961.7
965.6
48.7
48.7
48.7
October.
November.
December.
971.9
977.0
981.6
1960-January.
February.
March.
1953
.
April
.
Source: Bureau of Accounts.
These items represent the difference between the cost value and
the monetary value of silver bullion revalued and held to secure
silver certificates.
The figures in this column are not cumulative; as the amount of
X/
^
Total
seigniorage
on silver
revalued
326.2
422.1
508.1
616.0
705.6
1935
1936
1937
1938
1939
1943
Acts of
July 6, 1939,
and July 31, 1946
Potential
seigniorage on
silver bullion
at cost in
Treasurer's
account g/
2/
1,U8.4
967.3
717.3
U.3
98.3
98.3
bullion held changes, the potential seigniorage thereon changes.
Total of seigniorage on coins and on newly mined silver, beginning with
that for July 1959, is Included under coinsj the breakdown is not available
after June 1959.
6
..
Treasury Bulletin
6i»
.CAPITAL MOTEMENTS.
Data relating to capital movements between the
United States and foreign countries have been collected
since 1935, pursuant to Executive Order 656O of January 15,
1934, Executive Order 10033 of February S, 19'*9. and
Treasury regulations promulgated thereunder. Information
covering the principal types of data and the principal
oountries Is reported monthly, and Is published regularly
In the "Treasury Bulletin." Supplementary Information Is
published will be exactly comparable to those now preBente(
The first three sections which follow are publlshei'
monthly.
They provide summaries, by periods and by
countries, of data on short-term banking liabilities ttt
and claims on foreigners and transactions in long-ten
securities by foreigners, and present detailed breakdowm,
tVie latest available preliminary data.
'
of
Reports by banks,
published at less frequent Intervals.
securities brokers and dealers, and Industrial
and commercial concerns In the United States are made
initially to the Federal Reserve Banks, which forward
Section IV provides supplementary data in six tablet
bankers,
which appear at less frequent intervals.
Table
financial concerns,
published data.
banks and bankers, and Table
The term "foreigner" as used In these reports covers
all Institutions and Individuals domiciled outside the
United States and Its Territories and possessions, the
and debit balances in brokerage accounts,
official Institutions of foreign countries, wherever
such Institutions may be located, and International
"Short-term" refers to original maturiorganizations.
ties of one year or less, and "long-term" refers to all
other maturities. A detailed discussion of the reporting
coverage, statistical presentation, and definitions
appeared in the June
pages
195'* Issue of
the "Treasury Bulletin,"
As a result of changes in presentation
't5-'4-7.
short-'
July,
.4pril,
is
non-.
published quarterly in the January
Beginning April
igSi*, data reported by banks In the Territories and
possessions of the United States are Included In the
consolidated figures to the Treasury.
1,
foreign liabilities and claims reported by
teriT:
and October Issues of the Bulletin.
Table 2
long-term foreign liabilities and claims reported
b;
estimated gold reserven
and dollar holdings of foreign countries and Internationa'
Institutions, £ire published quarterly in the March, June,
September, and December Issues.
Table U, foreign credi'
3>
appears semiannually in the March and September Issues. Table 5
short-term liabilities to foreigners in countries am
areas not regularly reported separately by banking Institutions, is presented annually, appearing In the April'
issue through 195S and in the March issue thereafter.
Table
6,
purchases and sales of long-term securities
foreigners during the preceding calendar year,
b:
als<
appears annually, beginning with the May 1959 issue.
Introduced In that issue, not all breakdowns previously
Section I - Suimnary by Periods
Table 1.- Net Capital Movement Between the United States and Foreign Countries
(Id milliopg of dollars; negative figrjres indicate a net outflow of capital from the United Statea)
Analysis of net capital movement
Calendar year
or month
1935-U
19i2
1943
19i4
19A5
19A6
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
Net
capital
movement
1959-July
August....
Total
Short-term
banking funds
5,253.2
622.6
1,273.5
452.8
1,056.6
-803.0
345-5
244.7
193.8
1,749.6
3,661.3
532.5
1,207.1
431.1
1,166.3
-752.6
547.2
409.3
-24-8
1,971.2
3,034.6
485-9
1,179-3
220.4
1,279.4
-374.3
1,260.6
1,162-8
637.1
1,175.0
586.5
73.1
1,558.8
1,090.9
1,419.5
1,367.3
1,494.7
-6U.9
360.9
998.1
4,303.4
657.4
1,243.9
1,102.4
1,270.2
682.1
1,338.4
219.1
1,000.8
3,181.9
-707.1
3,460.7
1959
Changes in claims on foreigners
Changes in liabilities to foreigners
-U8.4
636.2
601.5
-100.0
1,026.8
Transactions in
domestic securities
Total
9U.4
-221.6
-584.3
-U7.5
3U.9
-2.7
1,121.6
-298.2
72.0
-782.4
-192.4
-908.3
-975.8
-1,705.2
-842.7
-482.0
-162.0
-397.2
-253.7
-342.6
-93.0
-377.0
-217.9
-72.2
-300.4
-30.4
-511.1
-722.1
-1,362.5
-749.7
62.8
278.7
110.0
-50.4
22.0
-86.7
56.9
28.0
-35.3
-107.3
-6.0
-51.3
125.2
-4.6
-135.6
-212.4
-4.4
-86.0
-153.1
-.2
-49.6
-59.3
-11.5
U9.3
685.2
156.4
U1.8
90.1
66.4
21.7
-109-7
-50.4
-201.7
-164.6
as.
128.5
295.8
87.7
385.6
-181.1
287.2
37-4
1960-Januaiy . .
February.
March
62. 8r
a. Or
136.8
132.3
172.3
29J.2
4-7
94-9
208.1
127.6
77.3
85.1
-69.5r
-131. 3r
-156.5
April p..
May p
248.0r
268.9
287. 7r
U5.2r
U2.5
-39.7r
263-6
319.6
-56.0
5.3
PrBlimlnaiy.
4U.0
855.5
-7.4
77.7
93.5
-46.6
265.1
1,591.9
358.6
366.4
495.6
-55-9
September.
736.3
97.5
-11.3
Transactions in
foreign securities
626.7
46.6
27-8
210.7
-113.1
-334.2
-89.1
-192.2
75.2
308.2
388.4
408.9
-60.5
278.4
-84-0
October. .
Noveaber.
December..
Short-term
banking funds
126.
<1
91.0
-71.8
-63.1
-315.5
-240.7
-69.8
190.8
-76.2
-70.5
-80.3
U4.2
-78. 9r
25. 5r
-37.5
4.3
21.6
39.0
-94.8
27.8
-U5.4
9.4
-156.8
-119.0
-43.9
-16.4
d
July
1960
65
.CAPITAL MOVBffiHTS
Section I - Suimnary by Periods
Table 2.- Short-Term Banking Liabilities to and Claims on Foreigners
(Position at end of period in millions of dollars)
Short-term liabilities to foreigners
Short-term claims on foreigners
Pe^able in dollars
End of calendar year
or month
Foreign
official
Other
foreign
Inteiv
national
30.9
34.4
54.6
47.5
290.5
98.1
948.9
1,018.7
827.9
898.0
968.4
292.9
361.2
222.7
151.1
177.2
490.6
557.1
494.3
506.3
699.4
165.4
100.4
110.8
240.6
91.8
122.9
156.5
206.5
328.1
405.4
847.5
646.5
969.0
1,056.5
1,390.8
78.4
101.6
48.8
1,048.7
904.5
1,386.5
1,548.5
1,945.7
3,158.1
59.0
59.4
7742
2,199.4
2,542.0
2,635.0
385.5
439.4
486.6
1,666.5
1,904-9
1,913.4
6,735.3
6,850.3
6,908.7
2,780.5
2,720.2
2,991.4
66.9
65.9
70.9
2,384.2
2,356.3
2,391.6
437.4
422.5
457.8
1,766.4
1,755.6
1,735.2
197.7
235.0
180.5
178.1
198.6
9,095.7
9,082.5
9,L43.8r
6,802.9
6,995.8
6,961.8r
3 ,049.3
68.4
65.4
77.2
2,395.9
2,481.9
2,635.0
432.5
483.7
486.6
1,737.3
1,785.9
1,913.4
226.1
212.3
235.0
8,893. 6r
8,869.1
8,999.1
7,258.1r
7,229.9
7,288.3
7,309.6
7,441.8
3,137.7
3,285.3
3,299.6
3,233.4
3,357.5
56.3
56.3
2,713. 9r
2,688.4
2,725.9
2,721.6
2,700.0
508.7
477.9
465.1
486.6
490.4
1,976. At
2,000.3
2,045.3
228.8
210.3
215.5
222.9
224.4
473.7
40.6
1947
1948
1949
1950
1951
7,116.4
7,718.0
7,618.0
8,644.8
9,302.2
1,832.1
2,836.3
2,908.1
3,620.3
3,547.6
2,972.7
2,947.0
3,001.0
3,451.7
4,041.2
2,262.0
1,864.3
1,657.8
1,527.8
1,641.1
49.7
1952
1954
1955
1956
10,546.1
11,648.4
12,918.6
13,600.7
U, 939.1
4,654.2
5,666.9
6,770.1
6,952.8
8,045.4
4,245.6
4,308.4
4,335.4
4,726.5
5,392.8
61.4
43.7
43.2
;
1,584.9
1,629.4
1,769.9
1,881.1
1,452.1
1957
1958
1959
15,158.3
16,159.1
19,340.9
7,916.6
8,664.9
9,143. 8r
:
1,517.3
1959-July
August . . .
September.
18,724.2
18,811.8
19,197.4
9,141.5
9,175.4
9,226.4
October. .
November.
December.
19,016.3
19,303.5
19,340.9
I960 January.
February.
March
19,345.6
19,440.6
19,648.6
19,793.9
20,113.4
April p...
May p
ciirrencles
143.7
137.2
169.7
245.0
1944
1945
1946
.
Payable in
foreign
72.0
86.4
105.4
100.3
319.6
1,947.1
2,036.7
2,239.9
2,678.2
2,922.0
1953
Other
246.7
257.9
329.7
392.8
708.3
13.9
17.9
21.6
2,244.4
3,320.3
3,335.2
4,179.3
3,043.9
1943
Loans to
foreign banks
cxtrrencies
4,205.4
5,374.9
5,596.8
6,883.1
6,480.3
1942
Payable in dollars
Payable in
foreign
9,188.3
9,246.6
J
J
25.5
5,665.3
5,890.8
6,961. 8r
l,5U.O
3,159.8
3,158.1
70.4
51.0
U.9
72.2
40.3
61.6
62.5
67.5
2,012.1
1,985.2
ai.o
163.9
U9.6
U7.3
Preliminaiy.
Revised.
Beginning in August 1956 and again In April 1957, certain accounts
previously classified as "Other foreign" are Included in "Foreign official.
Table 3.- Purchases and Sales of Long-Term Domestic Securities by Foreigners
(In
millions of dollars; negative figures indicate a net outflow of capital from the United States)
Corporate and other
Government bonds
and notes X/
0. S.
Calendar year
or month
Purchase
Sales
Net
1942
396.8 2/
164.2
1943
2U.3
19«
513.6
377.7
492.4 2/
138.5
170.6
268.2
393.4
414.5
684.2
3U.8
283.3
330.3
1945
1946
1947
1948
1949
1950
,
,
282.4
430.0
1,236.4
333.6
294.3
-95.7 2/
25.7
70.7
245.3
-15.7
-269.7
61.5
-47.9
96.4
942.1
Purchases
Sales
Sales
purchases
ptirchaaes
1935-U
Stocks
Bonds 3/
9,322.1
260.6
392.9
650.4
637.9
8,695.3
20.9
-43.0
-34.6
-97.4
367.6
226.1
369.7
354.1
666.9
432.1
376.7
-64.5
-150.6
-L44.3
-21.2
2.9
782.1
570.9
652.2
784.1
2,011.1
1,116.3
659.9
844.4
708.9
1,066.6
-334.2
-89.1
-192.2
75.2
619.5
649.2
533.9
980.2
1,433.7
1,363.5
1,163.8
1,453.6
1,861.5
120.3
1.0
55.2
135.0
127.5
256.0
1,533.3
1,384.0
1,447.9
2,205.7
3,227.0
2,790.0
2,282.8
2,982.5
3,807.3
2,117.6
1,069.0
1,459.4
2,056.4
2,541.8
2,633.6
2,141.0
2,985.2
2,685.7
-584.3
6.1
28.7
35.3
51.3
17.3
72.6
739.8
650.2
589.1
1,115.1
1,561.2
1,619.5
1,306.4
1,397.3
2,224.4
-2.7
1,121.6
26.2
22.6
22.3
5.8
9.9
18.0
197.4
157.9
137.0
163.7
122.6
111.3
33.7
292.4
35.3
25.7
U8.9
229.6
170.2
173.1
62.8
278.7
110.0
353.2
400.2
346.4
333.0
313.7
311.2
373.1
366.8
228.0
273.4
255.4
125.2
126.8
91.0
205.4
236.4
226.1
127.6
77.3
85.1
230.7
422.8
-56.0
2/
2/
2/
108.3
2/
-.6
-21.6
11.7
5U.1
375.3
664.0
666.1
1,223.9
1,214.1
718.3
1,187.6
528.0
36.3
686.1
1959-Julj
August . .
September
63.1
258.5
105.8
39.7
25.0
39.5
233.5
66.3
October.
November.
162.6
166.4
92.1
77.0
98.8
55.0
85.6
67.5
37.2
35.3
25.3
26.1
33.3
10.0
10.9
-3.9
155.3
196.8
224.8
125.7
37.0
29.4
167.1
29.7
48.3
57.8
103.9
119.5
112.7
182.8
161.5
53.5
87.8
29.S
36.8
42.4
24.3
70.3
50.4
31.6
42.3
25.4
28.8
5.5
11.4
13.6
199.3
157.4
156.1
127.6
123.1
126.9
34.3
29.2
85.7
240.1
97.1
-78.6
34.7
40.5
23.0
24.0
11.7
16.5
155.7
164.8
122.0
158.7
33.7
6.1
,
,
,
Ifecember..
1960-Januaiy.,
February
March
AprU
fcy P
1/
2/
p
. .
673
533
646
800
1,341
883
1,356.6
231.4
728.0
792.7
812.1
1,018.3
23.3
120.0
200.1
212.8
289.7
324.7
287.1
310.2
361.4
368.8
31.9
32.5
40.3
Ihrough 1949, includes transactions in corporate bonds.
Through 1949, included with transactions in U. S. Government
bonds and notes.
626.7
46.6
27.8
-UI.4 2/
-683.0
302.3
-82.0
8.2
529.0
-135.0
-52.1
1951
1952
1953
1954
1955
1956
1957
1958
1959
Net purchases of
domestic
securities
841.6 2/
75.5
194.6
171.4
357.7
^,
2/
107.7
Total
sales
430.2 2/
96.4
151.6
136.9
260.2
i
2/
Net
purchases
Total
purchases
141.
188.5
197.4
283.6
296.0
251.8
258.9
344.0
296.2
15.3
2/
p
U8.5
14.2.6
-56.3
362.9
71.7
283.1
zu.o
365.2
439.7
751.0
ao.7
-113.1
9U.4
3U.9
-11.5
U9.3
685.2
156.4
U1.8
U2.5
January 4, 1940, through December 31, 1941! the breakdown between
stocks and bonds ia not available for earlier years,
Preliminary.
...
.
Treasury Bulletin
66
•
CAPITAL MOVEMENTS.
Section I - Summary by Periods
Table 4.- Purchases and Sales of Long-Term Foreign Securities by Foreigners
(in millions of dollars; negative figures indicate a net outflow of capital from the United States)
Foreign bonds
Calendar year
or month
1935-41
1942
1943
U6.4
19a
1945
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
195t
1957
195 tJ
1959
1959-July
Au^fft .
September
.
October.
November.
December.
1960-JariUary.
.
February.
March . .
April
May p
p.
July
I960
67
.CAPITAL MOTIMENTS.
Section II - Sumnary by Countries
Table I.- Short-Term Banking Liabilities to Foreigners
(Poaltloc >t and of period In
Country
nlUlons
of dollara
^
i
60
Treasury Bulletin
.CAPITAL MOVEMENTS,
Section II - Sunvnary by Countries
Table 2.- Short-Term Banking Claims on Foreigners
(Position at end of period in millions of dollars)
Calendar year
1%0
1959
Coun try-
1956
Europe
:
Austria
Belgium
Czechoslovakia
DenmarfC
Finland
France
Gerraajiy, Federal Republic
Greece
Italy
Netherlands
Norway
Poland
Portugal
Rumania
Spain
Sweden
Switzerland
Turkey
U.S.S.R
United Kingdom
,
of,
,
,
,
,
,
,
,
,
,
,
,
Total Asia
Other countries:
Australia
Belgian Congo
Egypt 1/
Union of South Africa
All other
Total other countries
International
Grand total
1U.4
140.0
^3
6.3
56.3
29.4
7.6
,
:
Thailand
Other Asia
18.3
157.0
,
Cuba
Dominican Republic
Guatemala
Mexico
Netherlands W. Indies and
Surinam
Israel
Japan
Korea, Republic of
Philippines
Taiwan
10.7
4.1
1.6
Latin America :
Argentina
Bolivia
Brazil
Chile
Colombia
China Mainland
Hong Kong
India
Indonesia
Iran
.1
12.2
3.5
23.
Total Europe
Total Latin America
6.4
24.5
.2
,
Canada
Panama, Republic of
Peru
El Salvador
Uruguay
Venezuela
Other Latin America
6.7
28.1
i3.2
20.9
Yugoslavia
Other Europe
Asia
1957
,
^3.4
3.6
2.0
1958
November
December
January
February
March
April p
July
mo
69
.CAPITAL MOVEMENTS.
Section II - Summary by Countries
Table 3.- Net Transactions In Long-Term Domestic Securities by Foreigners
(In thousaixJo of dollars
j
negative flgurea Indicate net sales by foreigners or a net outflni of capital froo the United States)
Calendar year
1959
Countiy
1956
1953
1957
November
1959
1960
December
Europe:
Austria
Belgium
Czechoslovakia
Denmark
Finland
Flttnce
Germany, Federal Republic of.
Greece
Italy
Netherlands
...
Norway
Poland
Portugal
Rumasla
SjBln
768
25,355
118
-1,196
-59
-6
9,886
-120,635
70
5.897
28
-633
-702
-37
678
-4,476
57,037
1,469
193
-1
-5U
9,543
3,012
61
422
-42,427
672
39,416
5,235
1,337
-5,715
1,871
-7,645
62,303
22,749
276
6,937
38.327
13,090
557
124
3,754
8,321
6,500
1.821
37
508
6,081
37,977
19,046
37
4,494
18,305
-26
2,109
24,196
-9
3,356
-213
2.a5
20
236
6,596
1,603
-U
-1,102
200
1,001
-651
-2,249
-17
-517
-791
21
Sweden
Switzerland .
Turkey
n.S.S.R
United Klngda
-47
233,939
-7
6,111
98,302
79
4,339
-32,303
36
92,384
265 ,643
391
165
21,937
565
5
19,696
22
7,659
79,027
-12,228
143,358
44,822
15,947
Yugoslavia , .
Other Europe.
120
10.340
-165
-2
g.l6l
-26
-3.624
23,644
5.725
-9,279
Total Europe.
161,019
291,273
-40,197
745,282
101,949
-123 ,507
-8,357
-202,213
80,696
4,557
3,066
492
1,832
2,260
1,694
1,225
-448
869
281
-333
-623
-2,601
-510
1,292
410
3,385
169
2,147
-497
1,094
9,087
778
-29
4,723
-8,738
-20
408
2,028
-68,517
1,656
2,561
-2,276
379
292
1,321
152
27
10
307
Canada
latin America
Argentina .
. .
BoUvla
Brazil
Chile
Colombia
Cuba
Dominican Republic ........
Guatemala
Mexico
Netherlands W. Indies and
Surinam
963
232
14
63
-396
31
3,903
3,810
25,546
19,538
156
524
257
124
4,185
1.483
125
-726
-879
-181
-2,533
-1,210
917
2,912
1.449
-256
Venezuela
Other latin America.
-1,789
670
-57
3,724
3,769
-264
8,841
-1,227
671
124
-383
1,310
-253
704
Total Uitln America.
33,859
8,117
-46,000
46,785
2,027
153
219
-2,335
-453
-403
4,231
-1,389
58
174
-2
18,454
l.OU
-47
937
-512
1.156
186
13
91
1,281
-572
-2
-1,993
-1.091
981
22
505
i^nama. Republic of.
Peru
El Salvador
Uruguay
9.5U
Asia;
China Mainland.
Hong Kong
India
Indonesia
5,524
49
-U,777
117
85
94
Israel
Japan
Korea, Republic of.
Philippines
Taiwan
706
1,096
-181
-1,694
15
2
207
-438
-756
-493
Thailand....
Other Asia
154
6.048
545
58
9.577
3.542
-369
21.035
-22
606
-1,U6
4.610
2,704
42,936
1,335
191
-174
60
77
441
-323
45
-96
-12
187
18,881
-11
-526
18.834
-638
Iran
Total Asia
II
-U
-1,018
-4,795
1
9
387
-59
8
-1,357
Other countries
Australia
Belgian Congo
Egypt 1/
Union of South Africa.
All other
287
4.114
3.U9
150
-48
105
129
-786
Total other countries.
4.381
3.553
-450
81,745
-157,420
283 ,453
187,023
17,553
156,351
141.776
-2.703
1.121,556
126,783
latemational .
Grand total..
2
-213
U
7
Jasuai7
February
April
p
70
;;
July
i960
71
.
Table
CAPITAL MWHflENTS
Section III - Preliminary Details by Countr les
Short-Term Banking Liabilities To Foreigners a s of May 31, 1960
(Position in thousands of dollars
Treasury BuUetin
72
.CAPITAL MOVEMENTS.
Section III - Preliminary Details by Countries
Table 2.- Short-Term Banking Claims on Foreigners as of May 31, 1960
(Position In thouaaDds of dollars]
1/
Part of United Arab Republic (Egypt and Syria) since February 1958.
Data on claimfl on Syria are not available separately, but are
included in "Other Asia."
I
July
1960
73
.CAPITAL MOVIMENTS.
Table 3.
Section III - Preliminary Details by Countries
Purchases and Sales of Long-Term Securities by Foreigners during May 1Q60
(in thousands of dollars)
1/
Part of United Arab Republic (Egypt and Syria) since February 1958,
Data on purchases and sales by Syria are not available separately,
but are included in "Other Asia."
.
.
.
Treasury Bulletin
7'^
.CAPITAL MOVEMENTS
Section IV
-
.
Supplementary Data by Countries
Table 1.- Short-Term Liabilities to and Claims on Foreigners Reported by Nonfinanclal Concerns 1/
fPoaition at end of period in thousands of dollars)
Claims on foreigners
Liabilities to foreigners 2/
Country
1958
1959
Septeiuber
Europe:
Austria
Belgium
Czechoslovakia.
Denmark
Finland
2,777
28,585
202
1,369
784
3,232
27,130
France
Germany, Federal Republic
Greece
Italy
Netherlands
33 ,6A1
12,257
1,453
10,208
17,017
40,595
50,913
1,178
9,691
30,701
Norway
Poland
Portugal
U,346
15,364
Rujnanla
Spain
Sweden
Switzerland. .
Turkey
U.S.S.R
....
United Kindgom.
.
Yugoslavia
Other Europe.
..
Total Europe.
.
11
3
674
181
7,295
181
7,640
U,351r
I6,979r
15,Z33
999
270
89,757
17,853
1,788
270
75,753
242
504
1,042
252,156r
31,159
Latin America:
Argentina. . .
Bolivia.
Brazil
Chile
Colombia
Cuba
Dominican Republic...
Guatemala
Mexico
Netherlands W. Indies
and Surinam
203
1,282
802
10,
U2
876
16,419
2,705
3,126
581
260
303
,Ulr
27,063
9,9a
1,134
16,U9
661
9,889
2,957
3,372
7,924
868
376
3,998
5,463
801
3,961
3,763
Panama, Republic of.
Peru
El Salvador
Uruguay
4,085
3,052
Venezuela
Other Latin America.
13 ,658
5,472
7,606
2,221
79
4,565
11,635
5,134
Total Latin America.
85,086
81,702
990
2,305
1,077
3,832
6,496
2,294
3,495
6,9U
231
4,545
Asia:
China Mainland
Hong Kong.
India
Indonesia.
Iran
Israel
Japan
Korea, Republic of.
Philippines
Taiwan
2,257
3,560
762
1,549
U,317
157
4,906
1,618
13,623
366
6,196
917
Thailand
Other Asia
920
4,833
1,303
4,044
Total Asia
42,093
45,638
Other countries:
Australia
Belgian Congo
Egypt
Union of South Africa.
All other
19,391
412
881
3,827
4,575
14,818
465
Total other countries.
29,086
25,496
y
International
Grand total.
45
439,625r
935
4,540
4,738
1958
December p
December
1959
September
..
:
Juhj
i960
75
.CUMULATIVE TABLE OF CONTENTS.
August 1959 through July 1960
lasue and page number
1960
1959
Aug.
Sept.
Oct
Feb.
Apr.
Hay
Reporting bases
Articles:
Treasury financing operations
Sujmiflry
of Federal fiscal operations
Budget receipts and expenditures:
Receipts by prlAclpal sources
Detail of miscellaneous receipts by major categories
Expenditures by agencies
Summary of appropriations and authorizations, expenditures,
and balances, by agencies
Expenditures and balances by functions
Trust account and other transactions:
8
8
Summary of trust account and other transactions
Trust account receipts
Trust and deposit fund account expenditures
Net investment by Government agencies In public debt securities ..
Net redemption or sale of obligations of Government agencies in
the market
Federal Old-Age and Survivors Insurance Trust Fund
Federal Disability Insurance Trust Fund
Hallroad Retirement Account
Unemployment Trust Fund
National Service Life Insurance Fund
Investments of specified trust accounts in public debt securities,
by issues (latest date March 31, 1960)
Cash income and outgo
Summary of Federal Government cash transactiona with the public .
Sujmnary of cash transactions through Treasurer's account
Derivation of Federal receipts from the public, and reconciliation
to cash deposits in Treasurer' s account
Derivation of Federal payments to the public, and reconciliation
to cash withdrawals from Treasurer's account
Intragovemmental transactions
Accrued interest and other noncash expenditures
Derivation of Federal net cash debt transactions with the public,
and reconciliation to transactions through Treasurer's account ...
.
9
10
8
9
10
8
8
8
9
10
8
9
10
9
10
19
19
20
20
13
13
13
13
U
U
U
U
15
15
15
15
16
16
10
8
8
8
8
9
10
9
10
8
9
8
9
10
10
11
12
13
11
11
12
11
12
13
13
13
13
15
15
15
16
16
16
11
U
U
U
18
18
8
9
U
18
18
13
13
13
13
18
18
13
13
13
13
U
U
U
U
19
U
U
19
14
19
U
19
20
20
15
15
15
15
15
15
15
15
20
20
14
15
15
16
16
16
16
18
19
18
19
23
20
20
20
25
25
26
20
20
26
27
28
21
22
18
18
19
19
20
20
13
13
16
Account of the Treasurer of the Dnited Statea:
Status of the account of the Treasurer of the United States
Analysis of changes in tax and loan account balances
18
19
23
18
19
18
19
23
24
25
25
26
20
20
25
25
26
20
20
21
20
20
a
25
25
26
26
27
28
21
26
27
28
21
23
21
22
23
29
2i,
24
29
24
23
24
24
24
18
19
Debt outstanding;
Suranary of Federal securities
Computed Interest charge and rate on Federal securities
Intere at-bearlng public debt
Average length and maturity distribution of marketable
interest-bearing public debt
Special issues to U. S. Government investioent accounts
Treasury holdings of securities issued by Government agencies
Statutory debt limitation
21
22
23
29
26
27
28
a
22
20
21
a
a
22
22
23
23
21
23
29
Public Debt Operations:
Maturity schedule of interest-bearing public marketable securities
other than regular weekly Treasury bills
Offerings of Treasury bills
New money financing through regular weekly Treasury bills
Offerings of public marketable securities other than regular
weekly Treasury bills
Allotments by Investor classes on subscriptions for public
marketable securities other than regular weekly Treasury bills .
Disposition of matured public marketable securities other than
regular weekly Treasury bills
.
30
32
34
25
27
29
30
32
25
25
25
U
25
27
29
30
27
29
32
34
27
29
27
29
30
32
34
36
31
36
31
31
36
31
31
36
40
35
40
35
35
40
35
42
37
43
38
38
A3
38
(Continued on following page)
25
27
29
31
35
38
43
38
.
Treasurij Bulletin
76
.CUMULATIVE TABLE OF COITIEWrS.
August 1959 through July 1960
-
(Continued)
Issue and page number
1960
1959
Aug.
Sept.
Oct.
Nov.
41
47
47
48
Dec
May
Jan.
Feb.
Mar.
Apr.
42
42
43
45
42
42
47
47
48
42
42
42
42
43
43
50
51
52
45
45
50
51
46
46
53
46
46
52
46
47
53
46
47
46
47
48
48
54
48
58
Juiie
July
United States savings bonds:
Cumulative sales and redemptions by series
Sales and redemptions by periods, all series combined
Sales and recemptions by periods. Series E through K
Redemptions of matured and unmatured bonds
Sales and redemptions by denonilnations, Series E and H combined
Sales by States, Series E and H combined
i6
46
47
49
..
U
U
42
U
U
42
44
50
51
45
52
50
51
43
45
47
47
48
42
42
43
45
Ownership of Federal securities:
Distribution by classes of investors and types of issues
Net market purchases or sales for investment accounts handled by
the Treasury
Estimated ownership
45
53
45
46
45
46
52
53
46
47
54
47
47
54
48
52
'
54
46
46
47
Treasury survey of ownership of Federal securities:
Ownership by banks, insurance companies, and others
Ownership by commercial banks classified by membership in Federal
Reserve System (latest date December 31, 1959)
52
51
Market quotations:
End-of-month closing quotations on Treasury securities by issues
Chart - yields of Treasury securities
Average yield s of long-term bonds:
. .
Average yields of Treasury and corporate bonds by periods
Chart - Average yields of Treasury and corporate bonds
51
53
60
55
57
61
62
58
59
63
60
61
62
56
57
64
65
65
66
67
58
59
59
60
61
58
60
52
54
52
54
59
61
56
58
52
54
60
52
54
61
62
55
56
55
56
62
63
59
60
55
56
61
62
55
56
63
57
58
59
57
58
64
65
61
62
57
58
63
57
58
59
61
62
62
63
64
59
60
60
61
59
60
60
61
62
65
66
66
61
62
67
68
63
58
Internal revenue collections:
Summary by principal sources
Chart - Internal revenue collections by principal sources
Detail of excise tax collections
64
64
64
63
Monetary statistics:
Money in circulation
Monetary stocks of gold and silver
Gold assets and liabilities of the Treasury
Components of silver monetary stock
Seigniorage
Increment from reduction in weight of gold dollar (latest date
March 31, 1960)
65
66
66
67
68
65
66
66
67
68
62
66
65
67
67
68
69
66
66
67
68
68
68
69
68
69
70
69
70
70
69
71
70
62
64
Exchange Stabilization Fund (latest date December 31, 1959):
Balance sheet
Income and expense
National bank reports:
Earnings, expenses, and dividends for calendar years 1955-59
65
Capital movements between the United States and foreign countries:
»
Summary by periods since 1935
Summary by countries and periods
Short-term banking liabilities to foreigners, latest month
Short-term banking claims on foreigners, latest month
Purchases and sales of long-term securities by foreigners,
latest month
Short-term liabilities and claims reported by nonfinancial concerns
Long-term liabilities and claims reported by banks and bankers
Estimated gold and short-term dollar resources of foi^ign coxintries
and international institutions
Foreign credit and debit balances in brokerage accounts
Short-term liabilities, countries and areas not regularly reported.
Purchases and sales of long-term securities by foreigners during
calendar year 1959
71
74
78
79
72
75
69
72
73
63
66
70
71
79
80
76
77
74
72
81
78
68
71
75
76
62
65
69
71
74
78
65
68
70
79
77
71
80
72
72
63
66
70
71
71
74
78
79
66
69
73
74
72
73
73
78
75
79
79
80
76
80
81
82
Corporations and certain other business- type activities:
Statenents of financial condition (latest date March 31 1960
Income and expense (latest date December 31, 1959)
Source and application of funds (latest date December 31, 1959)....
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